My reflections on a shameful week in economics.

Lisa Cook, as a nominee for the Fed; Stephanie Kelton, as a leader in macro; and Jeanne Smialek as an economic journalist, came under attack this week. Economics is a disgrace: Feb 2022 edition.

Today’s post is not about inflation or jobs or the expired child tax credit, though all make a cameo. It’s about a fight over the culture of economics on #EconTwitter, EJMR, Substack, blogs, emails, lunchrooms, and the U.S. Senate. The mess is a tiny bit of substance wrapped in many slimy layers of nastiness. Welcome to economics.

Since it’s out in public and non-economists are asking, “What is going on?” What’s wrong with you, economists?” I thought it would explain. (Short clip below.)

Here are a few references. You can find hundreds more online, sadly.

Claudia Sahm @Claudia_Sahm

Disgusting. Trying to discredit Lisa Cook from a racist Economic Job Market Rumors blog attacks on her. That's the travesty.

Lawrence H. Summers @LHSummers

I am sorry to see the @nytimes taking MMT seriously as an intellectual movement. It is the equivalent of publicizing fad diets, quack cancer cures or creationist theories.

nytimes.comIs This What Winning Looks Like?Modern Monetary Theory, the buzziest economic idea in decades, got a pandemic tryout of sorts. Now inflation is testing its limits.

Jeanna Smialek @jeannasmialek

Self reflection is important, and it's especially important if your job is to inform people. I've read through @Noahpinion's takedown of my Sunday Business piece, and though he did not ask me for a comment, I have one.

Noah Smith 🌐+🧦=🐇 @Noahpinion

That NYT article about MMT was a master class in how NOT to write about macroeconomics. https://t.co/lzg0SE0bAI

Stephanie Kelton @StephanieKelton

Not to mention what @IsabellaMWeber had to endure. It’s been a banner start to the New Year for some of us women economists. We can take it but shouldn’t have to. 💪🏼💃🏼 axios.com/male-economist…

axios.comMale economists are freaking out over a NYT profileIn this Twitter-based fight about an economic theory, the gender dynamics don’t look good.

Wrapping up

Economics must do better. I know we can. We must. We will.

Here is the closing of the video. Listen, please. Act.