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} }
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
432 Citations
References
SHOWING 1-10 OF 247 REFERENCES