Lilla Gorombei | Corvinus University of Budapest (original) (raw)
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University Of Agribusiness And Rural Development, Plovdivv, Bulgaria
Università degli Studi del Piemonte Orientale "Amedeo Avogadro"
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The nature of the "Keynesian revolution" and the relation of Keynes's contribution to those of hi... more The nature of the "Keynesian revolution" and the relation of Keynes's contribution to those of his contemporaries continues to concern historians of economics (e.g. Mark Blaug, "Second Thoughts on the Keynesian Revolution," HOPE 1991). David Laidler, in Fabricating the Keynesian Revolution (1999) and his chapter in The Cambridge Companion to Keynes (2006), argues that Keynesian macroeconomics did not represent a radical change in economic thinking, but, rather, an extremely selective synthesis of themes that permeated twenty years of interwar monetary economics, much of which was overshadowed in textbook versions of the "Keynesian revolution." This essay evaluates the Laidler thesis and attempts, placing Keynes in the context of his contemporary economics to elucidate the work of synthesis by Keynes and his early interpreters, considering whether the theory of the determination of national income as a whole was a radical change in economic thinking that went beyond synthesis.
The nature of the "Keynesian revolution" and the relation of Keynes's contribution to those of hi... more The nature of the "Keynesian revolution" and the relation of Keynes's contribution to those of his contemporaries continues to concern historians of economics (e.g. Mark Blaug, "Second Thoughts on the Keynesian Revolution," HOPE 1991). David Laidler, in Fabricating the Keynesian Revolution (1999) and his chapter in The Cambridge Companion to Keynes (2006), argues that Keynesian macroeconomics did not represent a radical change in economic thinking, but, rather, an extremely selective synthesis of themes that permeated twenty years of interwar monetary economics, much of which was overshadowed in textbook versions of the "Keynesian revolution." This essay evaluates the Laidler thesis and attempts, placing Keynes in the context of his contemporary economics to elucidate the work of synthesis by Keynes and his early interpreters, considering whether the theory of the determination of national income as a whole was a radical change in economic thinking that went beyond synthesis.