Perspectives on Keynesian Economics

1. Front Matter

   Pages i-xiv

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2. History, Methodology, and their Current Relevance

   1. Front Matter

      Pages 13-13

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3. Introduction

   1. Introduction

      • Arie Arnon, Jimmy Weinblatt, Warren Young

      Pages 1-11

4. History, Methodology, and their Current Relevance

   1. Front Matter

      Pages 13-13

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   2. Making the Most of Anomaly in the History of Economic Thought: Smith, Marx-Engels, and Keynes

      • Samuel Hollander

      Pages 15-34

   3. Reason and Reasonableness in Keynes: Lessons from The Economic Consequences of the Peace 90 Years Later

      • Maria Cristina Marcuzzo

      Pages 35-55

   4. The Marshallian Roots of Keynes’s General Theory

      • Michel De Vroey

      Pages 57-79

   5. Was Patinkin a Keynesian Economist?

      • Mauro Boianovsky

      Pages 81-101

   6. Keynes, Robbins and the Nature of Economics

      • Amos Witztum

      Pages 103-134

   7. Johnson’s Conversion from Keynesianism at Chicago

      • Russell S. Boyer

      Pages 135-167

5. Models, Pedagogy, Policy and Crisis

   1. Front Matter

      Pages 169-169

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   2. The Keynesian Revolution and IS-LM: From Enigma to Conundrum

      • Warren Young

      Pages 171-182

   3. The Keynesian Method, Complexity, and the Training of Economists

      • David Colander

      Pages 183-206

   4. Keynes, Wicksell and Active Monetary Policy

      • Arie Arnon

      Pages 207-231

   5. “The Consequences to the Banks of the Collapse of Money Values”, 1931 and 2009

      • Robert W. Dimand

      Pages 233-250

   6. The Great Depression, the Global Financial Crisis and Old Versus New Keynesian Thinking: What Have We Learned and What Remains To Be Learned?

      • Alex Cukierman

      Pages 251-273

   7. Lucas, Keynes, Animal Spirits, Co-ordination and the Recent Crisis

      • David Laidler

      Pages 275-304

This book combines historical and policy-oriented perspectives on the relevance of the Keynesian approach for economic theory, policy, and crisis analysis. The first part focuses on historical, theoretical, and methodological issues, and puts them in context with current developments. The second part focuses on the application of the Keynesian approach to modeling the economy, policy-making, and analyzing the ongoing crisis of the early 21st century. Bringing together contributions by leading macroeconomists such as Laidler, Cukierman, Colander and Boyer, and leading historians of economics such as Hollander, Boianovsky, Marcuzzo, Dimand, Witztum, Young, deVroey and Arnon, the book offers a comprehensive overview of Keynesian economics today. One of the book’s most essential features are the commentaries on the papers, which promote a cross-fertilization between macroeconomists and historians of economics, providing, in conjunction with the papers themselves, a balanced outlook on the current relevance of Keynesian economics.

• Economic Crisis
• History of Economic Thought
• Keynes
• Keynesian Economics
• Monetary Policy

• Dept. Economics, Ben-Gurion University of the Negev, Beer Sheva, Israel

  Arie Arnon

• , Faculty of Humanities and Social Science, Ben-Gurion University of the Negev, Beer Sheva, Israel

  Jimmy Weinblatt

• Dept. Economics, Bar-Ilan University, Ramat Gan, Israel

  Warren Young

Arie Arnon has been professor at the Department of Economics at Ben Gurion University since 1983. His areas of research include the macroeconomics and monetary theory as well as the history of economic thought. Jimmy Weinblatt is Rector of the Ben-Gurion University of the Negev. He has conducted research in International Trade, Economics of Crime, Applied Macroeconomics, Economics of Social Issues (e.g. - minimum wage, economics of non-profit organizations' government's allocation of resource to social budgets). Warren Young is professor at Bar-Ilan University. His research interests are in the History of Open Economy Macromodels, and Early General Equilibrium and Real Business Cycle models.

Policies and ethics