What a load of unsubstantiated ignorance, name-calling, and knocking down straw men. It is not worth my time to give a detailed reply. Consider just this for a start. Mr. Frezza likes microeconomics and thinks it is valuable. Macroeconomics is nothing but dynamic general equilibrium, which is a branch of microeconomics. So macro in fact is a subset of micro. Next, note that there always are kooks. There are a lot of serious people who don't pop off with nonsense to curry favor in the press, but people like Mr. Frezza conveniently ignore them. Gee, I even know of a few raving ignoramuses in the journalism field. Should I conclude that journalism is a subject that almost seems to require that its practitioners know nothing about anything so that they can put on airs and act superior to everybody else? If Mr. Frezza is typical, the answer is a resounding yes.