Join a Book Discussion on 10/19

Zoom with John Cochrane and me, free and open to everyone

On Wednesday, October 19, at 1 PM New York time, join a free Zoom panel with me, John Cochrane, and a possible third panelist whose ability to attend is iffy. It is free and open to anyone. No need to be a subscriber, but you do need to register in advance.

The discussion is stimulated by Alan Blinder’s A Monetary and Fiscal History of the United States, 1961-2021. But you should be able to enjoy the discussion without having looked at the book. My review of the book is here.

The 1970s were one of the most interesting periods of macroeconomic history. Blinder devotes 1/3 of the book to that period, and we may end up giving it a greater proportion of time during our discussion.

The 70s were also one of the most turbulent periods within the economics profession. The most fundamental questions were put in play. What really causes unemployment? Is there a definite trade-off between inflation and unemployment? Should monetary policymakers adhere to rules or be allowed discretion? Blinder gives some of the flavor of the debates, but his treatment is far from complete.

Back when I was in graduate school, from 1976-1980, these “macro wars” were at their height. The freshwater macroeconomists, from Chicago, Minnesota, and Rochester, fired missiles at the saltwater macroeconomists, from MIT, Harvard, Yale, Berkeley, and Stanford, and the saltwater macroeconomists fired back. The third guest I am hoping can make it is a former classmate against whom I could check my memories.

I am very much looking forward to this discussion, and I hope you can join us. John’s presence as a panelist should make this self-recommending. And the case for studying macroeconomic history is quite strong—Tyler Cowen complains often about The Great Forgetting. Again, you must register in advance. Here again is the link to register.