The Battle for the soul of macroeconomics, part 2 (Wonkish)
Sometimes projects are best left unfinished. I hope this is not the case here, but I concede that it has been way too long since the first part of my attempt to tell the story of microfoundations in macroeconomics. I have been stuck doing this for almost six months—which have prevented me from doing shorter podcasts—and I still feel that I have only scratched the surface. In any case, this show gets to the meat of the discussion, and tries to get to grips with the origins of microfoundations in macroeconomics.
So, why would you want to listen to this? I can think of two reasons. You might be a graduate/PhD student in macroeconomics who is confused about where the models you’re teacher is stuffing down your throat comes from. Alternatively, you might work with macroeconomics either as a journalist, investor, or analyst and you’re struggling to reconcile what you see when you read a piece of academic research with what you see in the real world.
It’s essentially a piece of macroeconomic history that is rarely told, but which I think is important. And if you’re looking of for something different, I hope it offers just that.
This podcast has been recorded with Audio Hijack 2, using the Blue Yeti microphone. It has been edited using Fission.