The Robert Lucas effect

p. 235-237

At the age of 48, Robert Lucas had become of of the most influential economic theorists in the world. His views on the importance of model altering and forward-looking on human behavior was as key point that the rising generation of macroeconomists thrive on. After teaching at the University of Chicago for about 12 years, he headed for Cambridge England to lecture there about his theories. One of the biggest conflicts he had was his arguments about alternative modeling strategies that he often had with Robert Solow about his model and what needs to happen to improve it.