tag:blogger.com,1999:blog-6245381193993153721.post7723405150957553910..comments2024-03-28T17:08:15.784-07:00Comments on Social Democracy for the 21st Century: A Realist Alternative to the Modern Left: Neoclassical Synthesis Keynesianism, New Keynesianism and Post Keynesianism: A ReviewLord Keyneshttp://www.blogger.com/profile/06556863604205200159noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-6245381193993153721.post-50642875675393779212013-01-09T18:57:31.641-08:002013-01-09T18:57:31.641-08:00Should Edward J. Nell be included in the post-Keyn...Should Edward J. Nell be included in the post-Keynesians?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-41224664849528750542012-10-29T10:18:02.870-07:002012-10-29T10:18:02.870-07:00Excellent post, and thank you for the bibliography...Excellent post, and thank you for the bibliography. the only thing i could ask, is that there be an actual keynes position to start with, so that one could compare the post neo classical and those that follow...Unknownhttps://www.blogger.com/profile/02008255784623870938noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-72511376536376119962012-01-05T20:39:05.382-08:002012-01-05T20:39:05.382-08:00This was a great read and helped me understand the...This was a great read and helped me understand the differences between the different schools and how they came about.<br /><br />This helped me understand why there is so much strife between "New Keynesians" and "Post Keynesians". For a while I was wondering if the fight was the equivalent of the fight between the "Judean People's Front" and the "People's Front of Judea". Now I see that the differences are massive. New Keynesian seems much closer to mainstream neoclassicals than it is to "Post Keynesian".Dustinhttps://www.blogger.com/profile/03281139322075488545noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-16394643514878070682012-01-01T14:15:52.726-08:002012-01-01T14:15:52.726-08:00do you know or have information about the keynesia...do you know or have information about the keynesians in latinamerica?Heribertohttps://www.blogger.com/profile/11246843767197073350noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-47426353465547007332011-12-06T04:01:19.414-08:002011-12-06T04:01:19.414-08:00"In fact, I was asking about the difference b..."In fact, I was asking about the difference between the New Keynesians and the Chicago Monetarist School. As I see, monetary intervention is the main instrument of economic policy for both economic schools."<br /><br />The New Keynesians emphasise monetary policy since fiscal policy is relatively ineffective when exchange rates are floating. <br /><br />The Monetarist School do believe that 'monetary intervention' {if required}, is more effective than fiscal intervention. However, they believe that the economy will fairly quickly return to a full employment position and that, in general, no intervention is required.<br /><br />The New Keynesians see that monetary intervention is required in the face of persistent involuntary unemployment. <br /><br />Since, the Monetarists believe the economy is virtually 'self stabilising' they propose, to keep the economy on an even keel, to allow the money supply to only grow by a small percentage per annum.<br /><br />This was the basis of the UK's, 1980, MTFS - medium term financial strategy. <br /><br />Followers of Friedman are still proposing the same policies.<br /><br />"The MTFS, dropped by Gordon Brown when he became Chancellor in 1997, needs to be reintroduced."<br />http://standpointmag.co.uk/node/2325/fullAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-40043847514296319222011-06-30T11:14:47.358-07:002011-06-30T11:14:47.358-07:00On the issue of New Keynesians being real Keynesia...On the issue of New Keynesians being real Keynesians or not, you can check this link from Mankiw's blog:<br /><br />http://gregmankiw.blogspot.com/2006/06/tobin-and-new-keynesians.htmlivanfoofoohttps://www.blogger.com/profile/07899286403907746852noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-59257183327797626542011-01-19T08:06:56.608-08:002011-01-19T08:06:56.608-08:00"As I see, monetary intervention is the main ...<i>"As I see, monetary intervention is the main instrument of economic policy for both economic schools."</i><br /><br />Some of the New Keynesians stress the need for fiscal policy at times, when monetary policy is impotent.<br /><br />The New Keynesians are not monolithic, however: some are skeptical of fiscal policy (because of the neoclassical ideas), while others strongly support it.<br /><br />There are also political differences, from conservative New Keynesians (e.g., Mankiw) to liberal/progressive ones (Stiglitz or Krugman).Lord Keyneshttps://www.blogger.com/profile/06556863604205200159noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-90705708426075702842011-01-19T07:09:42.497-08:002011-01-19T07:09:42.497-08:00In fact, I was asking about the difference between...In fact, I was asking about the difference between the New Keynesians and the Chicago Monetarist School. As I see, monetary intervention is the main instrument of economic policy for both economic schools.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-60211100154289639732011-01-18T17:17:07.059-08:002011-01-18T17:17:07.059-08:00The Chicago School is in fact a broad tradition. T...The Chicago School is in fact a broad tradition. Tt includes:<br /><br />First Chicago School of 1920-1945<br />Post-War Chicago of the 1945-1960<br />Second Chicago School of the 1960s-1970s<br />Milton Friedman and Chicago Monetarism<br />James M. Buchanan and the Public Choice Economics<br />Robert E. Lucas and New Classical Macroconomics<br />Ronald H. Coase and New Institutionalist Economic<br /><br />See:<br />http://homepage.newschool.edu/het//schools/chicago.htm<br /><br />Perhaps you mean what are the differences between the New Classicals and New Keynesians?<br /><br />The New Classicals are essentially modern neo-Walrasians, who support rational expectations and the efficient markets hypothesis. They also try and explain the business cycle through Real business cycle theory (RBC theory).<br /><br />The New Keynesians are weak Keynesians whose macrotheory in fact has many elements of neoclassical economics.Lord Keyneshttps://www.blogger.com/profile/06556863604205200159noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-85969414554188440172011-01-18T13:31:09.999-08:002011-01-18T13:31:09.999-08:00Could you point out the differences, if any, betwe...Could you point out the differences, if any, between the New Keynesians and the Chicago School?Anonymousnoreply@blogger.com