Akerlof's The Consequences for Macroeconomics During the Past 60 Years

Macro-Economic Article Analysis
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Macro-economic Article Analysis 
It is right to concur with Akerlof’s remarks that his profession as a macroeconomist had taken a fairly narrow path. During the period of undertaking his studies, Keynesian economics was the most dominant economic principle taught in schools (Akerlof, 2019). In the course of disseminating his lessons, the path to a greater understanding of macroeconomic principles was narrowed down to Keynes and a few other economists. For instance, learners, as well as economists, had the conviction that they had all that it takes to avert an economic downturn. They thought that maintaining full employment was the answer to such a position. However, this hypothesis proved wrong when the real global crisis such as the Great Depression and 2008/09 financial crisis came.
In essence, a country's, as well as the entire global economy, is under several inclinations and factors that affect it either directly or indirectly. Academia is highly predicated on peop...