The Development of Keynesian Macroeconomics

In this paper I will outline the historical development of Keynesian macroeconomics and add a few remarks. My version of the story will agree with textbook accounts in some ways, and differ fairly sharply in others. Very few references will be provided in support of assertions both because space is limited and because my version is something of a “stylized history of thought.” The hope is that it will be, like carefully selected “stylized facts,” analytically illuminating although lacking in detail. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.