The Hayekian triangle is comparable in terms of the simplicity/realism trade-off to the Keynesian
Simpson criticizes major alternative business-cycle theories such as underconsumption and overproduction, Keynesian
business-cycle theory, and real business-cycle theory.
ySTANBUL (CyHAN)- Syriza's victory in Greece re-instigated the old debate in Europe between those who advocate fiscal discipline at all costs versus the Keynesian
And despite the fears it engenders in polite society, this New Left is less Marxian than it is -- oh, the horror -- Keynesian
To this is joined an insight that derives from James Meade's summing up of the Keynesian
revolution: the investment dog wags its saving tail, rather than the other way around as in mainstream macroeconomic and growth theory (Meade 1975).
While international policymakers assume that Europe is suffering a Keynesian
crisis that can be cured with Keynesian
demand management via borrowing or loose monetary policy, this book shows that the European problem results from wrong relative goods prices and wages, caused by an inflationary credit bubble in southern Europe.
The literature focuses on the Keynesian
multiplier, the idea that a change in government spending will have a multiplied effect on real output or real gross domestic product (RGDP).
ALAN Carter is opposed to the idea of a Keynesian
"policy of massive government spending to buy our way out of economic strife" but he seems to have missed a trick (Letters, July 10).
Besides the outsized role Phillips' research played in the creation of a Keynesian
economic model that survived John Maynard Keynes' death, the man's biography is a whale of a story, which Harford succinctly captures.
Political Economy, Review of Keynesian
Economics, Journal of Post Keynesian
Economics, Revue de la Regulation).
The essays each have their own methodology and didactic basis, and cover teaching in a mainstream department, the economist who mistook his model for a market, an open system of theorizing in economics, teaching in an open system, pluralism in economic education, truth and beauty in macroeconomics, metaphors to persuade student economists and the public about fiscal policy, seeking inspiration from Paul Davidson, the puzzle of textbooks in America, teaching Keynes's theory to neoclassically formed minds, Keynesian
macro models and the special case, and constructing narratives to reaffirm the authority of the professional economist.
Contending Economic Theories: Neoclassical, Keynesian
, and Marxian.