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

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Author(s): Plassard, Romain
Source:
History of Political Economy; Jun2018, Vol. 50 Issue 2, p261-287, 27p
Subject Terms:
KEYNESIAN economics; MACROECONOMICS; ECONOMIC equilibrium; BUSINESS cycles; PRICES; CAPITALISM

Additional Information
- Subject Terms:
  CLOWER, Robert W.
- 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.