- An attack by Michael Stutchbury in The Australian. (Even the title is a lie - social democrats are not on the "far left".)
- John Quiggin responds.
- Stephen Williamson reviews Zombie Economics. We learn "DSGE has no implications, and therefore can't be wrong. Indeed DSGE encompasses essentially all of modern macroeconomics."
- John Quiggin tries to correct Williamson.
- Noah Smith also tries.
- Paul Krugman links to Smith and gently chides Williamson.
- Stephen Williamson comically explains this is not pulling rank: "Zombie Economics reads like fringe economics (Austrians, Post-Keynesians, etc.). In fringe economics, the game is dismissing things you know little about, and offering little that is actually constructive."
- Stephen Williamson provides an even worse elaboration, as if Krugman's point were that his synthetic Nobel makes him right.
1 year ago