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Lars P. Syll— Keynesian vs Newtonian economics

Summary:
James K. Galbraith quote. It's a should-read.Should also read the article from which the quote is extracted.JKG draws a parallel between Keynes and Einstein, and neoclassical economics (which Keynes called classical economics) and Newton. He makes a case that Keynes was thinking specifically of this contrast when he mounted his criticism of the economics of his day, which remains the convention of today owing to the Paul Samuelson's "bastarding" Keynes contribution in his synthesis that became the basis for New Keynesianism, which is more John Hicks on Keynes than Keynes himself.Lars P. Syll’s BlogKeynesian vs Newtonian economicsLars P. Syll | Professor, Malmo University

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James K. Galbraith quote. It's a should-read.

Should also read the article from which the quote is extracted.

JKG draws a parallel between Keynes and Einstein, and neoclassical economics (which Keynes called classical economics) and Newton. He makes a case that Keynes was thinking specifically of this contrast when he mounted his criticism of the economics of his day, which remains the convention of today owing to the Paul Samuelson's "bastarding" Keynes contribution in his synthesis that became the basis for New Keynesianism, which is more John Hicks on Keynes than Keynes himself.

Lars P. Syll’s Blog
Keynesian vs Newtonian economics
Lars P. Syll | Professor, Malmo University

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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