Alois Guger, Ewald Walterskirchen
Abstract
Abstract The co-existence of rising inflation, unemployment rates and budget deficits has discredited fiscal policy in the last decade. Keynesian economics, the dominant mode of thought in economic policy and economic analysis, has been depreciated and the old orthodoxy has gained ground again.
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Abstract The co-existence of rising inflation, unemployment rates and budget deficits has discredited fiscal policy in the last decade. Keynesian economics, the dominant mode of thought in economic policy and economic analysis, has been depreciated and the old orthodoxy has gained ground again.
Key concepts: Economics, Keynesian economics, Orthodoxy, Post-Keynesian economics, Fiscal policy, Inflation (cosmology), Monetary policy, Unemployment