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J.M.KEYNES: AN EMPEROR WITHOUT CLOTHES (ONE NON‐ECONOMIST'S VIEW OF ANOTHER)
Author(s) -
Arthur Terry
Publication year - 2004
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2004.00458.x
Subject(s) - recession , keynesian economics , economics , clothing , emperor , work (physics) , unemployment , monetary economics , macroeconomics , political science , law , history , mechanical engineering , ancient history , engineering
Central bank policy causes economic dislocation and recession. Keynes's work assumes away much of what is important in economic analysis. As a result, Keynesian conclusions on how to deal with recessions are wrong.