Macroeconomists Versus Economics

Last week two posts nicely illustrated the great divide between sound economics and reigning macroeconomic wisdom, such as it is. Speaking for the vulgar Keynesianism now in fashion was Christian Romer. On the other hand there was Joseph Salerno. In the lecture below, Salerno presents his reasons for why he thinks one of the silver linings behind the current economic mess is the death of macroeconomics.