ABSTRACT
More than a decade ago, macroeconomics as an important sub-discipline of economics went through a crisis. A sense of crisis in macroeconomics should not be a surprise since the field was born as a response to the worst economic calamity in Western history, the Great Depression of the 1930s. The failure of economists in the field to anticipate, predict, and even warn those in prominent roles in society about the fragility of the financial structures of the economy and the systemic consequences of that fragility led to the crisis in macroeconomics. By the middle of the first decade of the 21st century, most macroeconomists seemed to be quite pleased with the state of macroeconomics. Even before the 2018 annual meeting in Atlanta, the American Economic Association had begun formal consideration of a professional code of conduct.
