where was the brown bomber with his epical big finish when we pwog-macronauts needed him ?

learning is the key expectational model these days
that and a couple types of hetero agents
-----------------
i think mark is defending model builders
from an attack on model users
seems clear enough
model users have a criterion more like
if it works stay simple
ie hicks-hansen-mundell etc
not the crap of chi school
btw
often you build a model to make an allegorical point that is all about policy
but only by "projection"
i think its clear the academy encouraged an attack on keynesian macro "
as a policy guide
that was in fact motivated by its builders
to knock the pins out from under state macro activism
the sharp early round knock downs later tuirned into some split card decisioning in later rounds
in fact the NK fight back may have won more rounds prior to the big wally
and was leading on points
however the bull shit from chi
was still on its feet
we needed a brutal knock out finish
the nk crouch was purely
win on points score in flurries
in and out
on the bycycle strategy
----------------
and now ??
we have a disgraceful policy muddle

the nk's are unable to throw out the work product of two generations
and build their world anew
or at least say that's what they're doing
hence
they still get booed between rounds

--------------------------

in short it all went wrong in the late 70's
after the chi hit men
appeared to shake the hicks-tobin world to pieces
when we needed a new keynes to hurl a new paradigm
at the bastards
and wjhat we got instead was just little old
new keynesianism

yup


in the late 70's we need a new keynes
 not just  new keynesianism

nk apologist today

look  a little silly
trying to magnify the gains they made
 by laying in expectations


even if they now have conceeded 
the array of nk models that got collectively pimped
 added nothing that  for policy makers
hit with  a real big pinch
could claim
aided  their choice making
more then alvin hansen in '59

maybe all  their "mind games "
  only  distracted  sharp brains
 from the big un attempted keynesian  project
integrating the hi fi  cloud with the basic market driven production system
that cloud that fired the bolts that caused the  big pinch of fall  08

no model
really integrating hi fi with the production system
got serious  collective building action in the academy
in all those yeatrs from 80 to 08

instead
the academy at its  cutting edge units
assumed away big pinches
made hi fi a beautifully expanding earth covering
lake placid

and
best of all

the added micro foundations
ende up so chopped and fuse that
no kidding
 micro in single agent models
is  just macro in short pants

really guys didn't you wonder about
the one agent assumption ?

come on 
of course you did?

what did it help you work out ??
nothing right ?
it just allowed you a neat closed in model 

a zillion products
 a  dixit-stiglitz production platform

 but  fused together in its decision mechanism

why the models work  like gosplan in some early 30's soviet day dream

----

but surely now will be different

no more tractable modeling for clean cut results

wonder land is wonder land

market earth market earth
and never the twain shall meet

my forecast in that light ?

well ...

okay...

one might recall  that great line of bertie R's
u know
the one about
 kant and his sudden awakening from a  "humean jolt"

bertie:
"soon enough he fell back to sleep "