Tuesday, November 8, 2011

Keynesianism In One Easy Lesson


"For policy, the central fact is that Keynesian policy recommendations have no sounder basis, in a scientific sense, than recommendations of non-Keynesian economists or, for that matter, non economists". -

After Keynesian Economics aka After the Phillips Curve: Persistence of High Inflation and High Unemployment, page 57, Lucas and Sargent.


http://www.bos.frb.org/economic/conf/conf19/conf19.pdf

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