Why Aren't Economists as Important as Garbagemen? 2020
DOI: 10.4324/9781315489056-7
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The Evolution of Keynesian Economics: From Keynesian to New Classical to New Keynesian

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“…Here, I have presented the data so collected variously and tried to explain and analyze those data according to methodology prescribed that could fulfill the objectives proposed. (Colander, 1992) On Policy : According to Greenwald & Stiglitz (1987), 'There has been a longstanding controversy over what governments should do in the face of unemployment: (a) nothing; (b) encourage wage reductions; (c) use monetary policy; or (d) increase government expenditures. The success of Keynesian theory has much to do with the fact that it provided a theoretical justification for those who wished to take the fourth course.…”
Section: Analysis and Discussionmentioning
confidence: 99%
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“…Here, I have presented the data so collected variously and tried to explain and analyze those data according to methodology prescribed that could fulfill the objectives proposed. (Colander, 1992) On Policy : According to Greenwald & Stiglitz (1987), 'There has been a longstanding controversy over what governments should do in the face of unemployment: (a) nothing; (b) encourage wage reductions; (c) use monetary policy; or (d) increase government expenditures. The success of Keynesian theory has much to do with the fact that it provided a theoretical justification for those who wished to take the fourth course.…”
Section: Analysis and Discussionmentioning
confidence: 99%
“…He thinks NC has fallen out of favor and NK has prominence in the academic world as always is wide-spread and widely used. Colander (1992) in his paper provided his definition of NK, what its relation is with other schools of macro and why its emergence is an important development in macro theory under the topic 'New Keynesian Economics in Perspective'. He believed that the nomenclature issue is more than a terminological debate that points out what should be the current issue between Keynesians and Classicals.…”
Section: Reviews On Classical and Keynesian School Of Thoughtsmentioning
confidence: 99%
“…The mainstream method in the current literature is to describe the user decision problem as a model of random utility theory [9] or expected utility theory [10] and guide users to choose the best charging scheme through price, incentive policies or other methods. This type of model belongs to the decision model in neoclassical economics [11], and one of its basic assumptions is that the decision‐maker is a “rational person” with complete rationality [12]. However, in reality, EV users are essentially “behavioural persons” with bounded rationality [13].…”
Section: Introductionmentioning
confidence: 99%