 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 Richard Sturn, Hans Michael Trautwein, Muriel Dal-Pont-Legrand and Maxime Desmarais-Tremblay More articles in The European Journal of the History of Economic Thought from Taylor & Francis Journals |
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