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The study of macroeconomics seems to go through an identity crisis every 30-40 years associated with the inability to explain a significant event stagflation in the 1970s or the 2008 GFC

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The study of macroeconomics seems to go through an identity crisis every 30-40 years associated with the inability to explain a significant event stagflation in the 1970s or the 2008 GFC. Paul Krugman wondered about the GFC How did economists get it so wrong? Joan Robinson tells us the purpose of studying economics is to prevent us from being fooled by economists. What makes macroeconomics so difficult and contentious (make sure to tie your answer to course material here!)? And, what should a good macroeconomic theory be able to tell us?