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  2. Neoclassical synthesis - Wikipedia

    en.wikipedia.org/wiki/Neoclassical_synthesis

    The neoclassical synthesis (NCS), or neoclassical–Keynesian synthesis [1] is an academic movement and paradigm in economics that worked towards reconciling the macroeconomic thought of John Maynard Keynes in his book The General Theory of Employment, Interest and Money (1936) with neoclassical economics. The neoclassical synthesis is a ...

  3. Keynesian economics - Wikipedia

    en.wikipedia.org/wiki/Keynesian_economics

    Post-Keynesian economists, on the other hand, reject the neoclassical synthesis and, in general, neoclassical economics applied to the macroeconomy. Post-Keynesian economics is a heterodox school that holds that both neo-Keynesian economics and New Keynesian economics are incorrect, and a misinterpretation of Keynes's ideas. The post-Keynesian ...

  4. Comparison of Marxian and Keynesian economics - Wikipedia

    en.wikipedia.org/wiki/Comparison_of_Marxian_and...

    Keynesian economics therefore acted as a middle-way for many developed liberal capitalist economies to appease the working class in lieu of a socialist revolution. [15] Keynes himself also argued against the creation of a class war, noting that "[t]he class war will find me on the side of the educated bourgeoisie". [16]

  5. Neoclassical economics - Wikipedia

    en.wikipedia.org/wiki/Neoclassical_economics

    The attempt to combine neo-classical microeconomics and Keynesian macroeconomics would lead to the neoclassical synthesis [30] which was the dominant paradigm of economic reasoning in English-speaking countries from the 1950s till the 1970s. Hicks and Samuelson were for example instrumental in mainstreaming Keynesian economics.

  6. New classical macroeconomics - Wikipedia

    en.wikipedia.org/wiki/New_classical_macroeconomics

    New classical economics contributed the methodology behind real business cycle theory [6] and new Keynesian economics contributed nominal rigidities (slow moving and periodic, rather than continuous, price changes also called sticky prices). [7] The new synthesis provides the theoretical foundation for much of contemporary mainstream economics.

  7. John Maynard Keynes - Wikipedia

    en.wikipedia.org/wiki/John_Maynard_Keynes

    Not all academics accepted the criticism against Keynes – Minsky has argued that Keynesian economics had been debased by excessive mixing with neoclassical ideas from the 1950s, and that it was unfortunate that this branch of economics had even continued to be called "Keynesian". [32]

  8. Schools of economic thought - Wikipedia

    en.wikipedia.org/wiki/Schools_of_economic_thought

    The development of Keynesian economics was a substantial challenge to the dominant neoclassical school of economics. Keynesian views entered the mainstream as a result of the neoclassical synthesis developed by John Hicks. The rise of Keynesianism, and its incorporation into mainstream economics, reduced the appeal of heterodox schools.

  9. The General Theory of Employment, Interest and Money

    en.wikipedia.org/wiki/The_General_Theory_of...

    The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes published in February 1936. It caused a profound shift in economic thought, [1] giving macroeconomics a central place in economic theory and contributing much of its terminology [2] – the "Keynesian Revolution". It had equally powerful ...