Noah Smith: "Economics Struggles to Cope With Reality"

From BloombergView:

There are basically four different activities that all go by the name
of macroeconomics. But they actually have relatively little to do with
each other. Understanding the differences between them is helpful for
understanding why debates about the business cycle tend to be so
confused.

The first is what I call “coffee-house macro,” and it’s
what you hear in a lot of