The Role of the History of Economic Thought in Modern Macroeconomics
AbstractMost "leading" economics departments no longer teach the History of Economic Thought. Prominent macroeconomists nevertheless frequently deploy inaccurate accounts of the earlier development of ideas as rhetorical devices. These same economists have, however, also taught us that an understanding of how the economy functions helps condition the behaviour of maximising agents. The History of Economic thought documents the evolution of that understanding, so it is hard to see how economic history, which is the source of all the time series data which form the empirical basis of macroeconomics, can be interpreted without its help. Some implications of this insight are discussed and illustrated.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University of Western Ontario, Department of Economics in its series UWO Department of Economics Working Papers with number 20016.
Date of creation: Nov 2001
Date of revision:
Contact details of provider:
Postal: Department of Economics, Reference Centre, Social Science Centre, University of Western Ontario, London, Ontario, Canada N6A 5C2
Phone: 519-661-2111 Ext.85244
Web page: http://economics.uwo.ca/research/research_papers/department_working_papers.html
This paper has been announced in the following NEP Reports:
- NEP-ALL-2002-04-15 (All new papers)
- NEP-HPE-2002-04-15 (History & Philosophy of Economics)
- NEP-PKE-2002-04-15 (Post Keynesian Economics)
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Edward Nelson, 2004.
"The Great Inflation of the seventies: what really happened?,"
2004-001, Federal Reserve Bank of St. Louis.
- Nelson Edward, 2005. "The Great Inflation of the Seventies: What Really Happened?," The B.E. Journal of Macroeconomics, De Gruyter, vol. 5(1), pages 1-50, July.
- Andreas Freytag & Simon Renaud, 2004.
"From Short-Term to Long-Term Orientation - Political Economy of the Policy Reform Process,"
Jenaer Schriften zur Wirtschaftswissenschaft
12/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
- Andreas Freytag & Simon Renaud, 2007. "From short-term to long-term orientation—political economy of the policy reform process," Journal of Evolutionary Economics, Springer, vol. 17(4), pages 433-449, August.
- James Forder, 2010. "Economists on Samuelson and Solow on the Phillips curve," Economics Series Working Papers 516, University of Oxford, Department of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.