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Aggregate Demand-Supply Analysis and Its Critics: An Evaluation of the Controversy


  • William Scarth

    (McMaster University, Hamilton, ON, Canada,


While acknowledging that the AD-AS model is sometimes applied carelessly, this note defends this analytical framework against charges that it is internally inconsistent, empirically unrealistic, and unable to clarify major controversies in macroeconomic theory and policy. JEL classification: A22, B22, E10

Suggested Citation

  • William Scarth, 2010. "Aggregate Demand-Supply Analysis and Its Critics: An Evaluation of the Controversy," Review of Radical Political Economics, Union for Radical Political Economics, vol. 42(3), pages 321-326, September.
  • Handle: RePEc:sae:reorpe:v:42:y:2010:i:3:p:321-326

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    References listed on IDEAS

    1. Manuel Agosin & Roberto Machado, 2005. "Foreign Investment in Developing Countries: Does it Crowd in Domestic Investment?," Oxford Development Studies, Taylor & Francis Journals, vol. 33(2), pages 149-162.
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    Cited by:

    1. Grieve, Roy H, 2014. "'Right Back Where We Started From': From 'The Classics' To Keynes, And Back Again," SIRE Discussion Papers 2014-001, Scottish Institute for Research in Economics (SIRE).
    2. Roy H Grieve, 2014. "‘Right Back Where We Started From’: from ‘the Classics’ to Keynes, and back again," Working Papers 1401, University of Strathclyde Business School, Department of Economics.

    More about this item


    intermediate macroeconomics; AD-AS model;

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General


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