Edited by Robert W. Dimand and Harald Hagemann
Chapter 42: IS–LM
Since its inception, the IS–LM representation of Keynes’s General Theory has been controversial, ranging from Hicks’s “suggested interpretation” to Robinson’s “bastard Keynesianism” to Solow’s “trained intuition”. In this chapter, a number of themes and key questions are dealt with, including those involving (1) cross-fertilization and group efforts in its development; (2) equations and diagrams; and (3) language and symbols utilized in its applications. The nature of the “Keynesian revolution” and its relation to IS–LM, and the issue of whether it is a static and/or dynamic interpretation of Keynes’ General Theory are also discussed.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.