What Killed Macroeconomics?

Nov 16, 2021 Robert Skidelsky

Mathematical refinement aside, economics is back to where it was a century ago: the study of the allocation of given resources, plus the quantity theory of money. Macroeconomics – the theory of output as a whole, which was invented by John Maynard Keynes – has virtually disappeared, despite the revival of key tools when crises erupt.

https://www.project-syndicate.org/commentary/macroeconomic-policy-fiscal-stimulus-lacks-robust-theory-by-robert-skidelsky-2021-11?utm_source=Project+Syndicate+Newsletter&utm_campaign=41022d5f60-sunday_newsletter_21_11_2021&utm_medium=email&utm_term=0_73bad5b7d8-41022d5f60-106440339&mc_cid=41022d5f60&mc_eid=4ddf8a88ec

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