Abstract
For the last 20 years, mainstream macroeconomics has been facing a strong challenge. For a while, it looked as though it would not survive, as though it would be reconstructed along drastically new lines. As the challenge is now clearly fading, it is a good time to assess what has been done and where to go from here. This is what this chapter does. The message is not one of self-congratulation. There has been progress but also much time wasted. Put simply, to capitalize on what we have done, we need to return to pragmatism.
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© 1992 Springer Science+Business Media New York
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Blanchard, O.J. (1992). For a Return to Pragmatism. In: Belongia, M.T., Garfinkel, M.R. (eds) The Business Cycle: Theories and Evidence. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-2956-5_3
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DOI: https://doi.org/10.1007/978-94-011-2956-5_3
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-010-5312-9
Online ISBN: 978-94-011-2956-5
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