The Importance of Being Elastic

Tim Hazledine

Chapter 5 in Full Employment without Inflation, 1984, pp 38-43 from Palgrave Macmillan

Abstract: Abstract Robert Lucas concludes his critical review of some lectures by James Tobin with a story: The archaeologist Heinrich Schliemann, the discoverer of Troy, became convinced, we are told, that a particular skull unearthed in a later excavation was the head of Agamemnon. To the frustration of this creative and productive scientist, his associates confronted him with one devastating argument after another to the effect that this could not possibly be the case. Exhausted, Schliemann took up the skull and thrust it in the faces of his unconstructive critics: ‘Alright then, if he is not Agamemnon, who is he?’1

Keywords: Full Employment; Neoclassical Economy; Perfect Competition; Market Type; Involuntary Unemployment (search for similar items in EconPapers)
Date: 1984
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-17697-7_5

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349176977

DOI: 10.1007/978-1-349-17697-7_5

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().