The Eclipse of Keynesianism

1. Front Matter

   Pages i-vii

   PDF

2. Introduction

   • Robert Leeson

   Pages 1-10

3. ‘The Ghosts I Called I Can’t Get Rid of Now’: the Keynes-Tinbergen- Friedman-Phillips Critique of Keynesian Macroeconometrics

   • Robert Leeson

   Pages 11-44

4. The Chicago Counter-Revolution and the Sociology of Economic Knowledge

   • Robert Leeson

   Pages 45-72

5. The Rise of the Natural-Rate of Unemployment Model

   • Robert Leeson

   Pages 73-90

6. Does the Expectations Trap Render the Natural-Rate Model Invalid in the Disinflationary Zone?

   • Robert Leeson

   Pages 91-96

7. Language and Inflation

   • Robert Leeson

   Pages 97-110

8. Friedman and the Walrasian Equations of the Natural-Rate Counter-Revolution

   • Robert Leeson

   Pages 111-130

9. Back Matter

   Pages 131-182

   PDF

This book examines the process by which Keynesianism, with its sympathetic view of the role of government in the economy and society, lost influence amongst economists and policy makers and was replaced by more negative views about government intervention and more positive views about the role of the market as a social organiser.

• econometrics
• economy
• employment
• government
• intervention
• John Maynard Keynes
• Keynes
• Policy
• political economy
• revolution
• unemployment

• Murdoch University, Murdoch, Australia

  Robert Leeson

ROBERT LEESON is Senior Lecturer in Economics at Murdoch University. He has held visiting positions at Cambridge University, the London School of Economics and the Hoover Institution, Stanford University. He has published widely in journals such as the Economic Journal, Economica, the Cambridge Journal of Economics, Urban Studies and the History of Political Economy.

Policies and ethics