To fix or to rebuild?
There are plenty of obscure economists who have come up with ways to fix macroeconomics. I think of them like the early 2000s emo bands of Economics. It’s our job to listen to them before they air on the radio. It’s our job to take their theories and pick them apart. What exactly are they fixing? What does the model specifically address?
Is there even a model that fully encapsulates all macroeconomic phenomena?
Can we do that?
I don’t want to say no. But the question is: how do we get there?
I think the biggest mystery is unemployment. I’m still trying to figure it all out. You’re going to have to convince me that involuntary unemployment truly exists. I’m coming up with an argument that it might not. Give me some time. Let me figure it out.