Archivi del giorno: 25 dicembre 2008

Star Wars

The problem is that the new theories, the theories embedded in general equilibrium dynamics […] don’t let us think about the US experience in the 1930s or about financial crises and their consequences. We may be disillusioned with the Keynesian apparatus for thinking about these things, but it doesn’t mean that this replacement apparatus can do it either“.

(Robert Lucas, “My Keynesian Education”, Keynote Adress to the 2003 HOPE Conference)

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Archiviato in Economia