"You could say that [new classical revolution] is as much a revolution against old monetarism as it is against Keynesianism. The disagreement between monetarists and Keynesians was about the value of some parameters. It is not as fundamental a split as we experience now."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
James Tobin, in Conversations with Economists (1983) by Arjo Klamer
https://en.wikiquote.org/wiki/New_classical_macroeconomics
Revision History
No revisions have been submitted for this quote.
Categories
New classical macroeconomics
14 quotes on TrueQuotesView all quotes by New classical macroeconomics →
Related Quotes
"Allegedly, it is the mathematical elegance of the New-Classical economists that accounts for their widespread appeal …"
"It seems that the New-Classical economists have shown us that the world of human action is not as simple as Orthodox …"
"Some of the new classical economists are extremely ideological. If you give them evidence, for example, that fully an…"
"For a period of roughly 35 years, Keynesian theory provided a central paradigm for macroeconomists, and considerable …"
"The recent flourishing of New Classical economics, and especially its Equilibrium Business Cycle Theory (EBCT), has g…"
"Since the late 1960s macroeconomic debates in the United States have centered on the competing interpretations of the…"
"Of course the Keynesians did not sit still for these developments. They recognized and accepted many of the counterar…"
"I don't think that monopolistic behavior] is crucial to business cycles. I'll give you an example: In a competitive m…"
"An anonymous referee for another journal severely criticized my inclusion of Say's Law as a key explanatory component…"
"An offshoot of the Chicago school is the New Classical school, which uses the concept of "rational expectations" to a…"