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Clower's Volte-Face regarding the "Keynesian Revolution".

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    • Abstract:
      The article analyzes the influence of American economist Robert W. Clower's theoretical appraisal in the transformation of Keynesian macroeconomics in the 1970s. Topics discussed are Clower's disequilibrium interpretation of the general theory of trade cycle and general theory of price determination and his reinterpretation of the microfoundations of macroeconomics and dynamics of market economies.