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La crise a revele les insuffisances graves de la theorie macroeconomique dominante et des conceptions de politique macroeconomique qu'elle inspire. Le cadre analytique dans lequel raisonnent la plupart des macroeconomistes, celui qui guide les institutions nationales, europeennes et internationales dans leurs orientations, est intrinsequement inapte a rendre compte des evolutions structurelles d'une economie financiarisee et en profonde mutation. Les concepts-cles qui en sont les fondements induisent des choix d'indicateurs fournissant des signaux errones. Les grandeurs macroeconomiques standards sur lesquelles se fondent les politiques economiques se sont videes de leur sens, mais constituent neanmoins toujours les piliers des diagnostics. Refonder la macroeconomie est une urgence ; mais les ebauches actuellement offertes ne sont pas a la hauteur des defis. POTENTIAL GROWTH: ECONOMIC POLICY IN THE KINGDOM OF THE BLIND The 2009 crisis has shed a crude light on the deep shortcomings of standard macroeconomic theory and of its representation of the workings of macroeconomic policy. The analytical framework in which most macroeconomists reason, the one that guides national, European, and international institutions' orientations, is intrinsically unable to deliver insights on the structural evolutions of economies that are massively intertwined with finance and in perpetual technological change. The key concepts on which this framework is built lead to the choice of indicators that generate misleading signals. Standard macroeconomic aggregates guiding economic policies have been losing their meaning, but continue to be relied upon when forming a diagnosis on national economies. Rebuilding macroeconomic theory on new foundations is urgent; but the avenues that are being explored currently are far from providing adequate answers.

Croissance potentielle : la politique économique au royaume des aveugles ?