 Old views and new perspectives: on reading Hick's 'Mr. Keynes and the Classics'Ingo Barens and Volker Caspari The European Journal of the History of Economic Thought, 1999, vol. 6, issue 2, 216-241 Abstract: This paper discusses the different macroeconomic models presented in Hicks's seminal 1937 article on the IS-LM (or SI-LL) approach. Hicks's treatment of the supply side Keynes's reaction to the different SI-LL models later developments of SI-LL by Hicks and his comments on the construction of SI-LL are discussed. It is argued that one of the different SI-LL models does indeed represent a faithful rendition of the analytical core of Keynes's General Theory and does belong more to the Marshall-Pigou-Keynes tradition than to a Walrasian tradition. Textbook IS-LM (and AS-AD) models are compared to the original SI-LL models. It is argued that textbook IS-LM is decisively different from the SI-LL approach this difference being the cause of presently discussed problems and obscurities of the textbook IS-LM/AS-AD approach. Keywords: AS-AD analysis; IS-LM analysis; Keynes; Keynesian economics; Macroeconomics (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:eujhet:v:6:y:1999:i:2:p:216-241 Ordering information: This journal article can be ordered from DOI: 10.1080/10427719900000027 Access Statistics for this article The European Journal of the History of Economic Thought is currently edited by José Luís Cardoso More articles in The European Journal of the History of Economic Thought from Taylor & Francis Journals |
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