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An Analytical History of Macroeconomic Theory since John Maynard Keynes

MPS-Authors
/persons/resource/persons41142

Boyer,  Robert
Projekte von Gastwissenschaftlern und Postdoc-Stipendiaten, MPI for the Study of Societies, Max Planck Society;
Institut des Amériques, Vanves, France;

External Resource

https://vimeo.com/127906587
(Supplementary material)

Fulltext (public)
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Supplementary Material (public)

mpifg_boyer_ v15_0422.mp4
(Supplementary material), 123MB

Citation

Boyer, R. (2015). An Analytical History of Macroeconomic Theory since John Maynard Keynes. Talk presented at Scholar in Residence Lectures Series 2015. Köln. 2015-04-22.


Cite as: http://hdl.handle.net/11858/00-001M-0000-0029-3AD8-6
Abstract
This lecture provides a panorama of the various paradigms and models that have been expounded since the foundation of macroeconomics. Whereas the many transformations of capitalist economies have demanded an updating of Keynes’ core hypotheses, the economic profession has been obsessed by a grand reunification of micro theory and macro economics. The victory of Walrasian foundations has not only created axiomatic foundations but also a complete irrelevance of theory for explaining the dynamics of innovation, the consequences of an extended welfare system, the opening of national economies, and, finally, the hegemony of finance.