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> For the record, Romer is calling out one theory and one mathematical construct. The theory is RBC, or Real Business Cycle theory, which suggests that fluctuations in growth are caused by external shocks (oil prices, new inventions, etc.) not by anything central banks do

Soooo not the theory of supply and demand.

Supply and demand effects and the effects of price controls on supply is a topic of microeconomics, not macro.

Important to note here: "The Nobel prize of Economics" is not actually a real Nobel prize. It is another third party "prize" setup to emulate the nobel system, so it's much more like the "Nobel peace prize".

It's another example of economics pretending to be more rigorous and functional as a science than it actually is.