Premium
The Rise and Fall and Fall of Keynesian Economics? *
Author(s) -
LEESON ROBERT
Publication year - 1994
Publication title -
economic record
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.365
H-Index - 42
eISSN - 1475-4932
pISSN - 0013-0249
DOI - 10.1111/j.1475-4932.1994.tb01846.x
Subject(s) - keynesian economics , economics , argument (complex analysis) , interpretation (philosophy) , positive economics , new keynesian economics , fall of man , work (physics) , phillips curve , neoclassical economics , philosophy , law , political science , monetary policy , thermodynamics , linguistics , physics , politics , biochemistry , chemistry
This paper examines the argument that Professor Blinder presented to the Bicentennial Australian Conference of Economists, that the Phillips curve is ‘alive and well’. It is argued below that Blinder's conclusion is, at best, unproven. It also highlights The Keynesian Recovery, outlined by Howitt and others, which has not resurrected the trade‐off interpretation of Phillips's work.