Macroeconomics models have a loose grip on reality

tags

Economics

Is it cargo-cult science? I am reading chapters of macroeconomics textbooks on currencies and it is full of inaccuracies and the models suck.

I was trained as a physicist and I understand the benefits of making your models simple (I don't like agent-based models for this reason), but the model still has to be close to the main underlying mechanisms. In macroeocnomics that's not the case.

But Historical perspectives make a lot of sense in economics