The Reincarnation of Keynesian Economics
13 Pages Posted: 7 Aug 2007 Last revised: 15 Aug 2010
Date Written: October 1991
This paper discusses the reemergence of Keynesian economics during the past decade. It highlights the substantial differences between new Keynesian economics and the convictions of early Keynesians. In particular, it points out that new Keynesians have adopted many views that were once considered "monetarist" or "classical." It concludes that the term "Keynesian" may have outlived its usefulness.
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By Salim Rashid