Getting Rid of Keynes ? A reflection on the history of macroeconomics
(2006)
Files
2006-51.pdf
Open Access - Adobe PDF
- 523.21 KB
Details
- Authors
- Abstract
- The aim of this paper is to give an account of the unfolding of macroeconomics from Keynes to the present day. To this end I shall use a grid of analyses resulting from the combination of two distinctions. The first is the Marshall-Walras divide, the second is the distinction between Keynesianism viewed as a conceptual apparatus and Keynesianism viewed as a policy cause. On the basis of these distinctions, I construct two box diagrams. Box diagram No. 1 has complex general equilibrium and simple general equilibrium (i.e. macroeconomic) models as its columns, and the Marshallian and Walrasian approaches as its rows. Box diagram No. 2 has the Keynesian policy cause (justifying demand activation) and the anti-Keynesian policy cause (a defence of laissez-faire) as its columns, and the Marshallian and Walrasian conceptual apparatuses as its rows. This framework allows me to recount the history of macroeconomics as if it were a matter of filling in, step by step, the different slots in my two box diagrams.
- Affiliations
Citations
De Vroey, M. (2006). Getting Rid of Keynes ? A reflection on the history of macroeconomics (ECON Working Papers 2006/51). https://hdl.handle.net/2078.5/80069