"Macroeconomics is in a state of great confusion. The profession is deeply divided. Far from there being a body of knowledge which is generally accepted, almost every position is extremely contentious. Public discussion of economics has no coherent rationale, and governments, notwithstanding their emphatic rhetoric, cannot give a credible explanation of how it is that their policies fail to achieve the results they seek."
Wynne Godley, Professor of Economics, University of Cambridge, writing in the Financial Times in 1983.
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