IN 1924 John Maynard Keynes, who invented macroeconomics, used a biographical essay about his mentor Alfred Marshall to muse on the qualities of a good economist. He must be mathematician, historian, statesman, philosopher—in some degree. He must understand symbols and speak in words. He must contemplate the particular in terms of the general, and touch abstract and concrete in the same flight of thought…No part of man’s nature or his institutions must lie entirely outside his regard. He must be purposeful and disinterested in a simultaneous mood; as aloof and incorruptible as an artist, yet sometimes as near the earth as a politician. Such paragons were hard to come by, Keynes sighed: “Good, ...
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