Keynes and the Neoclassical Synthesis Einsteinian versus Newtonian Macroeconomics Routledge Studies in the History of Economics 1st Edition by Teodoro Dario Togati ISBN 0415183960 9180415183960

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Product details: 

ISBN 10:  0415183960 

ISBN 13: 9180415183960

Author: Teodoro Dario Togati

This book critically examines the development of macroeconomic thought by contrasting Keynesian economics with neoclassical synthesis, using the metaphor of Einsteinian versus Newtonian paradigms. Teodoro Dario Togati explores how Keynes’s revolutionary ideas challenged the classical (Newtonian) framework and paved the way for a new understanding of macroeconomic phenomena. The work offers a historical and philosophical perspective on economic theory evolution, shedding light on debates about methodology, policy, and theoretical foundations in macroeconomics.

Table of contents: 

PART I

The two basic paradigms of macroeconomics

1 Hicks’s Value and Capital

2 Keynes’s anti-atomism

3 Keynes’s General Theory as ‘theory of principle’

4 Keynes’s indirect forces paradigm

PART II

The Neoclassical Synthesis

5 Hicks’s ‘Mr. Keynes and the “Classics””

6 Hicks’s ‘Suggestion for Simplifying the Theory of Money’

7 Modigliani

8 Samuelson

9 Klein

10 American Keynesians in the 1950s

11 Satisfied

PART III

Microfoundations

12 New Classical microfoundations

13 Keynesian microfoundations I: the Walrasian benchmark

14 Keynesian microfoundations II: the Marshallian benchmark

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Tags: Teodoro Dario Togati, the Neoclassical, Einsteinian versus Newtonian, Routledge Studies