Here and here.
It might be hard for a more casual reader to pick the Lucas Critique out of the Tract on Monetary Reform as Brad (rightly) does. But even a casual reader ought to understand that "the long run is not a good guide to current affairs" is not the same at all as "the long run doesn't matter". Which raises the obvious question: are the transgressors out there awful readers or is something else going on?
Procrastinating on January 20, 2017
1 hour ago