The Fall and Rise of Keynesian Economics
AbstractKeynesian economics came under much criticism in the 1970s. This paper argues that the decline in Keynesian economics and the rise in, notably, new classical economics in this period is related to their respective theoretical appeal rather than their ability to explain developments in the macroeconomy. As this has become increasingly recognized, and with the development of sound microeconomic foundations, Keynesian economics has again been on the rise. Copyright 1988 by The Economic Society of Australia.
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Bibliographic InfoArticle provided by The Economic Society of Australia in its journal The Economic Record.
Volume (Year): 64 (1988)
Issue (Month): 187 (December)
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