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Seven Schools of Macroeconomic Thought
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Seven Schools of Macroeconomic Thought

Edmund S. Phelps

Abstract

This volume represents the publication of seven lectures––the first annual Arne Ryde Memorial lectures administered by the University of Lund––on what the author deems to be the seven leading schools of thought in contemporary macroeconomics. The result is a wide‐ranging appreciation of the richness of macro theory and a commentary on some of its more doubtful tenets by a scholar who has himself made contributions to all seven schools. The recurring motif is that actual economies are complicated and each school has its own important insights into them. The first four schools have in common tha ... More

Keywords: disequilibrium, economic depression, expectations, natural unemployment rate, non‐monetary employment theory, structuralism

Bibliographic Information

Print publication date: 1990 Print ISBN-13: 9780198283331
Published to Oxford Scholarship Online: November 2003 DOI:10.1093/0198283334.001.0001

Authors

Affiliations are at time of print publication.

Edmund S. Phelps, author
Columbia University
Author Webpage