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Rethinking the Keynesian Revolution
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Rethinking the Keynesian Revolution: Keynes, Hayek, and the Wicksell Connection

Tyler Beck Goodspeed

Abstract

While standard accounts of the theoretical debates in 1930s economic thought invariably pit John Maynard Keynes against Friedrich von Hayek, this reflexive dichotomy is in many respects exceedingly superficial. It is the argument of this book that both Keynes and Hayek developed their respective theories of the business cycle within the tradition of Swedish economist Knut Wicksell, and that this shared genealogy manifested itself in significant theoretical affinities between the two apparent antagonists. The salient features of Wicksell’s work, namely, the importance of money, the role of unce ... More

Keywords: Keynes, Hayek, Wicksell, money, macroeconomics, business cycle, uncertainty, capital accumulation, coordination failures

Bibliographic Information

Print publication date: 2012 Print ISBN-13: 9780199846658
Published to Oxford Scholarship Online: September 2012 DOI:10.1093/acprof:oso/9780199846658.001.0001

Authors

Affiliations are at time of print publication.

Tyler Beck Goodspeed, author
Harvard Univesity

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