Response Paper

What Would Keynes Do?

What Would Keynes Do?

John Maynard Keynes was correct about how to do macroeconomics, and the mainstream economists counter-attack commenced against his concepts beginning in the 1940s was simply wrong. It will be argued that the macroeconomics conceived by Keynes and his nearest followers provides the only reasonable route toward comprehending the huge alterations that engulfed the world economy in the last quarter of the 20th century. The narrative incorporates major shifts in behavior on the real and financial sides of the U.S. and global economies after around 1980.(Sullivan 2003)

Bruce Bartlett and BrianS. Wesbury and Robert Stein would ...