Would Keynes be a ‘New’ Keynesian?

Louise Davidson

Chapter 24 in Uncertainty, International Money, Employment and Theory, 1999, pp 318-336 from Palgrave Macmillan

Abstract: Abstract The principle of a ‘truth in labelling’ law that protects consumers1 from false and misleading claims is often violated by economics textbooks. Under the truth in labelling law, a minimum quantity of beef is required in a patty before society permits anyone to sell it as a hamburger. Similarly, some minimum quantity of Keynes’s logical analysis should be an essential ingredient in any theory being sold as Keynesian, especially in textbooks to yet uneducated consumers. Paraphrasing a famous slogan of the 1988 Democratic presidential primary, ‘Where’s the Keynesian beef in New Keynesian economics?’.

Keywords: Aggregate Demand; Full Employment; Liquid Asset; Aggregate Supply; Coordination Failure (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-14991-9_24

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DOI: 10.1007/978-1-349-14991-9_24

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