Struggle over the Keynesian Heritage
Since World War II, economists have struggled to understand the Keynesian Revolution and to apply its lessons to the modern economy. The heart of the debate over Keynes’ radical ideas has been whether they could or should be reconciled with the older, neoclassical economic theory. Post-Keynesians have insisted that the traditional belief in free markets cannot accommodate the dynamic and complex m...
Since World War II, economists have struggled to understand the Keynesian Revolution and to apply its lessons to the modern economy. The heart of the debate over Keynes’ radical ideas has been whether they could or should be reconciled with the older, neoclassical economic theory. Post-Keynesians have insisted that the traditional belief in free markets cannot accommodate the dynamic and complex m...
