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Planet Money cover image

The quest to save macroeconomics from itself

Planet Money

NOTE

The challenges of progress in macroeconomics

The big problem with macroeconomics is the lack of clarity and progress. Macroecomonics grapples with big questions such as why some economies grow faster than others, how long recessions will last, and how to control inflation without harming the rest of the economy. Despite years of research, some macroeconomists still admit to being in the dark ages in terms of understanding these issues. The slow progress can be attributed to the rapidly changing macroeconomic environment, with the current monetary system only being in place since the 1950s.

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