Why Keynesian Stabilization Policy Doesn’t Work?

James E. Sawyer
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James E. Sawyer: Seattle University

Chapter 4 in Why Reaganomics and Keynesian Economics Failed, 1987, pp 55-63 from Palgrave Macmillan

Abstract: Abstract The mechanics of Keynes’s disequilibrium analysis were not highly visible. Rather, these were smuggled into his system by distinguishing between realized and notional quantities of saving and investment. Whereas realized or ex post saving and investment are continuously in equality (because an extant economic system can only be viewed in equilibrium), the values of notional or ex ante saving and investment are allowed to be unequal.

Keywords: Monetary Policy; National Income; Natural Rate; Full Employment; Phillips Curve (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-09497-4_4

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DOI: 10.1007/978-1-349-09497-4_4

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