Post Keynesian Economics: Solving the Crisis in Economic Theory

Louise Davidson

Chapter 17 in Money and Employment, 1990, pp 279-299 from Palgrave Macmillan

Abstract: Abstract There appears to be a crisis in economic theory. The tide of events in the last decade has diminished the stature of economists of both neoclassical-Keynesian and monetarist persuasion in the eyes of the public, and the corpus of orthodox neoclassical theory is a shambles. Meanwhile, and even more importantly, there appears to be an economic crisis in the real world which is not unrelated to the crisis in economic theory. For this economic crisis - the second great economic crisis of the twentieth century - is being precipitated by policy advice derived from irrelevant schools of neoclassical economic thought.

Keywords: General Equilibrium; Money Supply; General Equilibrium Model; Full Employment; Neoclassical Economist (search for similar items in EconPapers)
Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11513-6_18

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DOI: 10.1007/978-1-349-11513-6_18

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