"Colander: What’s your view of the New Keynesian approach? Tobin: I’m not sure what that means. If it means people like Greg Mankiw, I don’t regard them as Keynesians. I don’t think they have involuntary unemployment or absence of market clearing. It is a misnomer to call Mankiw any form of Keynesian. Colander: How about real-business-cycle theorists? Tobin: Well, that’s just the enemy."
— Greg Mankiw

January 1, 1970

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Academics from the United StatesEducators from the United StatesEconomists from the United StatesPeople from TrentonLiberals
Original Language: English

Sources

David Colander, "Conversations with James Tobin and Robert J. Shiller on the “Yale Tradition” in Macroeconomics", Macroeconomic Dynamics (1999), later published in Inside the Economist’s Mind: Conversations With Eminent Economists (2007) edited by Paul A. Samuelson and William A. Barnett.