Tag Archives: Robert Lucas

In a Carnegie-Rochester paper from 1979, Robert Lucas reviews an earlier report to the OECD by a group of independent experts. Lucas views the report as vacuous, eclectic, and dangerous: … I know of no other way to convey the Report’s undisciplined eclecticism. It meanders through the long list of issues which have been defined in popular debate as “policy problems,” accepting all as equally suited to treatment by government action and equally amenable to economic expertise, offering...

Tom Sargent describes how he learnt macroeconomics the Lucas way, starting from the Cowles Commission approach and digesting Muth’s (or Richardson’s?) rational expectations.