The Elgar Companion to John Maynard Keynes
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The Elgar Companion to John Maynard Keynes

Edited by Robert W. Dimand and Harald Hagemann

The most influential and controversial economist of the twentieth century, John Maynard Keynes was the leading founder of modern macroeconomics, and was also an important historical figure as a critic of the Versailles Peace Treaty after World War I and an architect of the Bretton Woods international monetary system after World War II. This comprehensive Companion elucidates his contributions, his significance, his historical context and his continuing legacy.
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Chapter 74: Robert M. Solow

Michaël Assous

Abstract

Solow is mostly credited with having paving the way to neoclassical growth theory in the 1950s. From the start, though, he constantly underlined the need to address Keynesian issues through the development of models connecting the long run and the short run or what he later called a “macroeconomics of the medium-run”. In this chapter, Solow’s various attempts to handle these issues are examined particularly with regard of Keynesian economics in the heyday of neoclassical synthesis in the 1960s, disequilibrium macroeconomics in the 1970s and new Keynesian economics in the 1980s.

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