Can Macroeconomics Be Saved — or Understood?

This article originally appeared in Regulation. Click here to read the full story.

By Ike Brannon

Macroeconomics is currently is crisis, and not for the first time. And Bill Phillips is largely to blame. Phillips life story—and his contributions to macroeconomics—are front and center in Tim Harford’s excellent new book, and for good reason. Besides the outsized role Phillips’ research played in the creation of a Keynesian economic model that survived John Maynard Keynes’ death, the man’s biography is a whale of a story, which Harford succinctly captures.