Keynesian Economics in Action

Kamran Dadkhah ()
Additional contact information
Kamran Dadkhah: Northeastern University

Chapter Chapter 4 in The Evolution of Macroeconomic Theory and Policy, 2009, pp 85-101 from Springer

Abstract: With the election of President John F. Kennedy Kennedy, President John F. , a group of young, idealistic and talented intellectuals and technocrats were assembled in Washington, DC. Among them were young economists who had come of age after the war and had been schooled in Keynesian economics. The first edition of Paul Samuelson Samuelson, Paul ’s (Nobel Laureate 1970) Economics: An Introductory Analysis was published in 1948. This book was responsible for spreading the Keynesian gospel not only in the United States but around the world. Their outstanding beliefs were that a better world was possible and that they had the know-how to build it. Their views on economic matters are reflected in the Economic Reports of the President for those years. The economy was considered machinery that could be fine-tuned to deliver a desirable combination of inflation and unemployment rates. The Keynesian influence was quite apparent.

Keywords: Gross Domestic Product; Unemployment Rate; Inflation Rate; Rational Expectation; Natural Rate (search for similar items in EconPapers)
Date: 2009
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:spr:sprchp:978-3-540-77008-4_4

Ordering information: This item can be ordered from
http://www.springer.com/9783540770084

DOI: 10.1007/978-3-540-77008-4_4

Access Statistics for this chapter

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