Robert Waldmann — On The new heavyweight macro critics

On a related note,  I was listening to NPR today while driving and Roger Penrose was the guest on Science Friday. He called for a "new physics" to address the anomalies that have arisen not only in attempting to unite QM with relativity but also within QM, which he called "absurdities." Asked how this might come about in the face of entrenched opposition, he admitted that different "communities" would resist change. Entrenched communities resist change because they would have to, well, change. Change comes slowly to organizations and cultures unless something provokes a revolution.

Maybe we are witnessing such a revolution in economics, with major players getting behind the need for change.

But actual change does not occur until a replacement is available.

Angry Bear
On The new heavyweight macro critics

Robert Waldmann