I also have a degree in economics and I was raised by two professors of economics and in my young life was surrounded by Nobel laureates in economics and have been involved in policy related things my whole life so I feel like I have some loose context to make this next statement.
The entire modern economics profession is irredeemably corrupt and has led to unfathomable amounts of human misery due to blind allegiance to beautiful models against all obvious evidence that they had no actual relationship to how the world works. This was especially true in Microeconomics and doubly true when it comes to talking about Lucas and Sargent and the nonsense that is Rational Expectations, as well as of course EMH and other related delusions.
Our public policy would probably better served if most of the profession was put on a cruise ship and launched out to sea. Just saying.
The entire modern economics profession is irredeemably corrupt and has led to unfathomable amounts of human misery due to blind allegiance to beautiful models against all obvious evidence that they had no actual relationship to how the world works. This was especially true in Microeconomics and doubly true when it comes to talking about Lucas and Sargent and the nonsense that is Rational Expectations, as well as of course EMH and other related delusions.
Our public policy would probably better served if most of the profession was put on a cruise ship and launched out to sea. Just saying.