Greece and bad macroeconomics

Reading about the crisis in Greece these past weeks has often reminded me of a 2010 book by Australian economist John Quiggin, provocatively titled Zombie Economics: How Dead Ideas Still Walk Among Us. If you haven’t read it yet, you should. In the book, Quiggin chronicles the ‘birth’, ‘life’, ‘death’, and ‘reanimation’ of several influential ideas in macroeconomics…