Wolfgang Münchau: Macroeconomists Need New Tools to Challenge Consensus: Secular stagnation–a sharp fall in growth rates lasting a very long time… …is not something that you can easily square with the current generation of macroeconomic theories and models…. The advent of chronic instability…. The present tools used by mainstream macroeconomists cannot deal with this adequately. … Continue reading Must-Read: Wolfgang Münchau: Macroeconomists Need New Tools to Challenge Consensus