the sorry state of modern economics

Axel Leijonhufvud (he's considered one of the "elders" in economics mentioned in the article) has an insightful article on the mess modern economics is in. It's tough reading at first, because of the parody, but it's basically about how micro theory and macro theory don't gel, and how economics has become obsessed with model making. well, quantum theory and relativity have yet to gel, as far as i know.

Useful warning, and one can only hope not to get up by approaching things in this dismal state of affairs. A few economists I know have managed not to do this, Acemoglu being really readable and willing to go over to "the other side" once in while.

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