New Wisdom from Old Books

Steven Hail ()
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Steven Hail: University of Adelaide

Chapter Chapter 3 in Economics for Sustainable Prosperity, 2018, pp 63-99 from Palgrave Macmillan

Abstract: Abstract This chapter provides a brief description of the first serious attempt at a realistic model of the economy, as outlined by Keynes in his General Theory and four subsequent academic papers. In these works, Keynes laid the foundations for what became known after his death as Post-Keynesian economics. The chapter also includes a discussion of the important contributions made by one contemporary of Keynes and two later economists to the development of a realistic macroeconomics.

Keywords: GDP Gross Domestic Product (GDP); investmentInvestment; Balance sheetBalance Sheet; inflationInflation; General equilibriumGeneral Equilibrium (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pal:bifchp:978-3-319-90981-3_3

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DOI: 10.1007/978-3-319-90981-3_3

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