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Transition from the classical to the Keynesian Perspective

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  • Hukukane Nikaido

Abstract

This paper intends to recast the IS-LM to an analytical framework that reflects, more pertinently than the conventional version, Keynes's central analytical message in his General Theory resulting from his secession from the classics. The secession is imagined to be a process of transition from a simple analytical framework of the classics to this recast form of the IS-LM. Moreover the arguments in the paper occasionally touch on certain misleading conventional views pertaining to the issues.

Suggested Citation

  • Hukukane Nikaido, 2001. "Transition from the classical to the Keynesian Perspective," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 8(4), pages 526-546.
    • Handle: RePEc:taf:eujhet:v:8:y:2001:i:4:p:526-546
    DOI: 10.1080/09672560110079520
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    References listed on IDEAS

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    1. Milton Friedman, 1971. "A Theoretical Framework for Monetary Analysis," NBER Books, National Bureau of Economic Research, Inc, number frie71-1, March.
    2. Solow, R M, 1984. "Mr. Hicks and the Classics," Oxford Economic Papers, Oxford University Press, vol. 36(0), pages 13-25, Supplemen.
    3. A. W. Phillips, 1958. "The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957," Economica, London School of Economics and Political Science, vol. 25(100), pages 283-299, November.
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