Cast Your Mind Back To 1978, If You Will...

Pingree's Potato Patch
Studying the Economics of Detroit

Following a link from the inestimable Brad DeLong, Robert J. Gordon of Northwestern University has released a paper discussing how mainstream macroeconomics in 1978 has a lot to say about the current crisis, in contrast with the "Real Business Cycle" models which have driven a good part of modern economics since. I'm finding it sufficiently interesting I'm considering tracking down his 31-year old textbook.

Categories: Blog, GreatRecession, EconomicTheory