Macroeconomic theory and policy are strongly based on the assumption that economic growth is a fundamental goal. The environmental realities of the twenty- first century compel a reassessment of macro theory in terms of the impact of current growth patterns on planetary ecosystems. This paper...

The trend in mainstream economic thought about macroeconomic policy has been towards minimalism. In the optimistic Keynesian phase of the 1960's, it was assumed that both fiscal and monetary policy were effective tools for macroeconomic management. But the influence of monetarist and New...

The financial crisis of 2008 and its aftermath offer an opportunity to institute significant reform in economics teaching, starting at the introductory level. Mainstream macroeconomics texts still rely heavily on a classical assumption of a long-run full employment equilibrium, which underrates...