Simon Wren-Lewis writes more on schools of thought.
I am very very rude in comments
I agree with almost everything here. I will only type about disagreements.
First note the quick mention of "behavioral ..." Then later the casual statement that there is a mainstream consensus in favor of assuming rational expectations. This is a plain contradiction. I think it is clear what is going on -- when we discuss expectations (elicited or maybe revealed in simple experiments) we admit that there are systematic predictable deviations from rationality. Also when we attempt to explain behavior, we admit that what sure looks like the combination of that irrationality and plausible preferences is probably what it seems (although it is always possible to reconcile any behavior with full rationality).
I think it is clear what is going on. Economists like models with rational expectations and all use the same "as if" excuse. Also the Phillips curve turned out not to be an economic law refuting "Keynesian" economics (and confirming Keynes's warning which was as clear as a warning could be given the disadvantage of writing long before Phillips).
Idem with consumption. It is a fact that simple intertemporal optimizing models of consumption are rejected by the data. It is also true that they appear in DSGE models (often made equally harmless and pointless by adding on liquidity constrained agents). Now one might argue that we have moved beyond Keynes by noting factors which affect consumption which he didn't consider, then modifying the model to pick up the large empirical effect of current income. But only if you ignore The General Theory ..."'s chapter on consumption which does exactly that.
Needless to say, Keynes didn't critique econometrics, since it didn't exist in the form critiqued by Lucas when Keynes wrote. However, Lucas made no claim of originality, argued that the critique was very commonly made by the econometricians he critiqued and provided ample references to prove those claims.
So what is left which is "progressive." By the way, I hate that word with which I am mainly familiar from English translations of Trotsky. It was a magic word which explained why something was good even all the evidence at hand suggested it was terrible. Is it possible to write a defense of the rational expectations revolution without using the same magic word used to justify the Bolshevik revolution ?
What claim could possibly be weaker than "if interpreted flexibly, bring net benefits. " This is what one would write about a damaging orthodoxy -- the damage need not be denied given the word "flexibly". The benefits need not be listed, because ... I mean of course everyone who matters agrees that there are benefits.
It seems to me that with great effort by many smart people Macroeconomic theory has worked back to where it was in 1975 or so. There are many models with different implications which can be fiddled until they fit the data. None gives reliably good predictions. What progress justifies your use of "progressive" what net benefits have there been ?
Or finally, and I am asking for information and launching a challenge, what has been added to "The General Theory of Employment Interest and Money" ? I claim that any alleged new insight is either agreed to be false (but hey all models are false and the fact that RBC and New Keynesian models are false doesn't mean they aren't useful blah blah blah) or is in the book (I will provide page references).