In today's Financial Times, Martin Sandbu talked to David Vines, INET Oxford's Director of Ethics and Economics, about his latest work on the Rebuilding Macroeconomic Theory project.

Analysing the project, Sandbu calls it the 'primary effort "from the inside" to seriously reform macroeconomic thinking'. Sandbu notes that 'taking multiple equilibria seriously makes for fundamental change in how economics is applied to policymaking', and Vines eplains why he is optimistic that this change will come about.