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Samuelson and the Keynes/Post Keynesian Revolution

In: Interpreting Keynes for the 21st Century

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  • Paul Davidson

Abstract

For most students who studied economics in any American University during the last half of the 20th century, Paul A. Samuelson was thought to be a direct disciple of Keynes and his revolutionary general theory analysis. Samuelson is usually considered the founder of the American Keynesian school which he labeled neoclassical synthesis Keynesianism because of the classical microeconomic theory that Samuelson believed was the foundation of Keynes’s macroanalysis. As we will explain, Samuelson’s neoclassical synthesis brand of “Keynesianism” was not analytically compatible with the theoretical framework laid out by Keynes in The General Theory of Employment, Interest and Money (1936).

Suggested Citation

  • Paul Davidson, 2007. "Samuelson and the Keynes/Post Keynesian Revolution," Palgrave Macmillan Books, in: Interpreting Keynes for the 21st Century, chapter 18, pages 208-226, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28655-9_18
    DOI: 10.1057/9780230286559_18
    as

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