Abstract
| Language | English |
|---|---|
| Journal | GCU Economic Journal |
| Volume | 16 |
| Issue number | 2 |
| Publication status | Published - 2011 |
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Keywords
- macroeconomics
- keynes
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The grand macroeconomics circular tour: from 'the classics' to Keynes, and back again. / Grieve, R.H.
In: GCU Economic Journal, Vol. 16, No. 2, 2011.Research output: Contribution to journal › Article
TY - JOUR
T1 - The grand macroeconomics circular tour: from 'the classics' to Keynes, and back again
AU - Grieve, R.H.
PY - 2011
Y1 - 2011
N2 - Having noted the fundamental difference between the pre-Keynesian (classical) and Keynesian conceptions of the working of the macro system - i.e. from the one (classical) perspective that aggregate demand naturally accommodates itself to supply, and from the other, that planned aggregate demand is the key determinant of economic activity - this paper goes on to draw attention to the fact that the pre-Keynesian vision has re-emerged as the conventional wisdom as expounded in contemporary mainstream textbooks, a development intimately bound up with the adoption of the highly problematic ADAS model as the expository framework of choice.
AB - Having noted the fundamental difference between the pre-Keynesian (classical) and Keynesian conceptions of the working of the macro system - i.e. from the one (classical) perspective that aggregate demand naturally accommodates itself to supply, and from the other, that planned aggregate demand is the key determinant of economic activity - this paper goes on to draw attention to the fact that the pre-Keynesian vision has re-emerged as the conventional wisdom as expounded in contemporary mainstream textbooks, a development intimately bound up with the adoption of the highly problematic ADAS model as the expository framework of choice.
KW - macroeconomics
KW - keynes
UR - http://www.gcu.edu.pk/Eco_Jour.htm
M3 - Article
VL - 16
JO - GCU Economic Journal
T2 - GCU Economic Journal
JF - GCU Economic Journal
SN - 0242-2815
IS - 2
ER -