Colds, strokes and Brad Delong

Brad Delong takes issue with me over my criticism of Olivier Blanchard. Here’s the paragraph from my piece “The failure of macroeconomics” that he finds particularly uncharitable: Blanchard’s call for policymakers to set policy in such a way that linear models will still work should be seen for what it is–the desperate cry of an aging economist who discovers that the foundations upon which he has built his career are made of sand. He is far from alone… “It’s not that bad”, says Brad. And he goes on to use the analogy of heart attacks and the common cold to […]

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