What's happening in macroeconomics? a synthesis of meta-analyses on fiscal policy, inequality, and markets

Faced with the cacophony of conflicting empirical results in macroeconomics, this paper employs a quantitative synthesis approach, systematically reviewing meta-analyses to assess core tenets of neoclassical theory and economic liberalism. The aggregated evidence reveals that public spending multipliers significantly exceed those of tax cuts, particularly in recessions; that income and asset inequality acts as a drag on economic growth and damages public health; that minimum wage increases have no discernible net effect on employment, a finding consistent with labor market monopsony power; and that the privatization of public services fails to guarantee greater efficiency or better social outcomes. Collectively, these findings challenge dogmatic policy prescriptions, calling for a pragmatic, evidence-based approach to policymaking that acknowledges the role of context, institutions, and power distribution.