Macroeconomics: Religion or Science? — Roger E. A. FarmerWriting in 1999 in a widely cited paper “The Science of Monetary Policy”, three leading economists, Richard Clarida, Jordi Galí and Mark Gertler, CGG, make the case that monetary policy is a science. Although there is some truth to that claim, CGG could equally well have titled their paper; “Macroeconomics: Religion or Science?” Science and religion are strange bedfellows. Science dates from the e
Where's the Inflation? Where's the Beef? — Roger E. A. Farmer
