Abstract
Since its inception, the IS-LM representation of Keynes's General Theory has been controversial, ranging from Hicks's “suggested interpretation” to Robinson's “bastard Keynesianism” to Solow's “trained intuition”. In this chapter, a number of themes and key questions are dealt with, including those involving (1) cross-fertilization and group efforts in its development; (2) equations and diagrams; and (3) language and symbols utilized in its applications. The nature of the “Keynesian revolution” and its relation to IS-LM, and the issue of whether it is a static and/or dynamic interpretation of Keynes' General Theory are also discussed.
| Original language | English |
|---|---|
| Title of host publication | The Elgar Companion to John Maynard Keynes |
| Publisher | Edward Elgar Publishing Ltd. |
| Pages | 262-267 |
| Number of pages | 6 |
| ISBN (Electronic) | 9781788118569 |
| ISBN (Print) | 9781847200082 |
| DOIs | |
| State | Published - 1 Jan 2019 |
All Science Journal Classification (ASJC) codes
- General Economics,Econometrics and Finance
- General Business,Management and Accounting