Monday , May 21 2018
Home / Thomas Palley: Economics for Democratic and Open Societies / The General Theory at 80: Reflections on the History and Enduring Relevance of Keynes’ Economics

The General Theory at 80: Reflections on the History and Enduring Relevance of Keynes’ Economics

Summary:
This paper reflects on the history and enduring relevance of Keynes’ economics. Keynes unleashed a devastating critique of classical macroeconomics and introduced a new replacement schema that defines macroeconomics. The success of the Keynesian revolution triggered a counter-revolution that restored the classical tradition and now enforces a renewed classical monopoly. That monopoly has provided the ...

Topics:
Thomas Palley considers the following as important: ,

This could be interesting, too:

Jeff Mosenkis (IPA) writes IPA’s weekly links

Lars Pålsson Syll writes Globalization is not a win-win!

Lars Pålsson Syll writes In dreams (personal)

Lars Pålsson Syll writes Wohlstand für alle?

This paper reflects on the history and enduring relevance of Keynes’ economics. Keynes unleashed a devastating critique of classical macroeconomics and introduced a new replacement schema that defines macroeconomics. The success of the Keynesian revolution triggered a counter-revolution that restored the classical tradition and now enforces a renewed classical monopoly. That monopoly has provided the [...]
Thomas Palley
Dr. Thomas Palley is an economist living in Washington DC. He holds a B.A. degree from Oxford University, and a M.A. degree in International Relations and Ph.D. in Economics, both from Yale University.

Leave a Reply

Your email address will not be published. Required fields are marked *