Via Brad DeLong I found this piece by James Morely. In it Morely provides a thoughtful but thorough smackdown on some of the claims made by proponents of "modern" macro. It was an interesting read throughout and just the fix I needed after reading this Fed economist's pejorative and arrogant take on economic bloggers. This Fed economist recieved his just due from Scott Sumner.
Update: Matthew Yglesias responds to this Fed economist.
Update II: Mark Thoma, Ryan Avent, Nick Rowe, Brad DeLong, Arnold Kling, Will Wilkinson and Richard Green respond.
Update: Matthew Yglesias responds to this Fed economist.
Update II: Mark Thoma, Ryan Avent, Nick Rowe, Brad DeLong, Arnold Kling, Will Wilkinson and Richard Green respond.
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