The Revival of Laissez-faire in American Macroeconomic Theory: A Case Study of the Pioneers

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Edward Elgar Publishing, Jan 1, 2003 - Business & Economics - 177 pages
In the 1970s, the Keynesian orthodoxy in macroeconomics began to break down. In direct contrast to Keynesian recommendations of discretionary policy, models advocating laissez-faire came to the forefront of economic theory, from monetarism to public choic
 

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Contents

Introduction
1
Frank Hyneman Knight the moral philosopher
7
Henry Calvert Simons author of the blueprint
29
Friedrich von Hayek and the Austrian influence
46
Milton Friedman and monetarism
70
James Buchanan and public choice theory
104
Robert E Lucas Jr and new classical economics
127
Conclusion
144
References
153
Index
173
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