Reevaluating Macroeconomics: The Disconnect Between Theory and Evidence

This chapter critically examines a provocative paper that questions the core principles of academic macroeconomics, particularly the notion of 'productivity shocks'. The speakers argue that the field has drifted towards pseudoscience, prioritizing theoretical assertions over concrete data analysis. They call for a reassessment of methodologies in economics, advocating for rigorous engagement with diverse data perspectives to better understand economic growth and inequality.