The desperate need for a paradigm shift in establishment macroeconomics

Mario Seccareccia argues that the COVID-19 crisis has shown us that it is time for a paradigm shift away from neoliberal policy in establishment macroeconomics.

Seccareccia describes how the crisis, beginning with the preceding Global Financial Crisis of 2008, reversed many of the key conventional precepts that guided policy since the rise of neoliberalism in the 1970s. 

This paper was presented at the Galbraith Lecture as part of the annual meetings of the Progressive Economics Forum, Canadian Economics Association (online) on June 5, 2021.