Macroeconomics, Fantasy, Reality, and Intellectual Utility…

Brad DeLong:

Macroeconomics, Fantasy, Reality, and Intellectual Utility…: A very nice overview piece this morning from smart young whippersnapper Noah Smith:

Noah Smith: Economics Struggles to Cope With Reality: "Four different activities... go by the name of macroeconomics... But they actually have relatively little to do with each other.... Coffee-house macro.... Finance macro.... Academic macro.... Fed macro....

However, I think he has picked the wrong four. ...