• DOI:10.1257/AER.97.1.5
Corpus ID: 55652693

The Missing Motivation in Macroeconomics

@article{Akerlof2007TheMM,
  title={The Missing Motivation in Macroeconomics},
  author={George A. Akerlof},
  journal={The American Economic Review},
  year={2007},
  volume={97},
  pages={5-36}
}

George A. Akerlof

Published 2007

Economics

The American Economic Review

Macroeconomics changed between the early 1960s and the late 1970s. The macroeconomics of the early 1960s was avowedly Keynesian. This was manifested in the textbooks of the time, which showed a remarkable unity from the introductory through the graduate levels. John Maynard Keynes appeared, posthumously, on the cover of Time. Even Milton Friedman was famously—although perhaps misleadingly— quoted: “We are all Keynesians now.” A little more than a decade later Robert Lucas and Thomas Sargent… CONTINUE READING

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