by Summary:
Both Neoclassical (DSGE) and Post Keynesian (SFCA) models claim to be dynamic. But both violate core concepts in modern dynamics. Both also are at odds with their underling paradigms. Post Keynesian modelers can remedy both ills. Neoclassicals can’t embrace modern dynamics without abandoning their core beliefs.
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Steve Keen considers the following as important:
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Both Neoclassical (DSGE) and Post Keynesian (SFCA) models claim to be dynamic. But both violate core concepts in modern dynamics. Both also are at odds with their underling paradigms. Post Keynesian modelers can remedy both ills. Neoclassicals can’t embrace modern dynamics without abandoning their core beliefs.
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
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