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Economics in the Long Run Author: Theodore Rosenof

ISBN: 9780807857519 Format: Paperback Number Of Pages: 240 Published: 16 June 2009 Country of Publication: US Dimensions (cm): 23.5 x 15.2 x 1.4 Description: Though understandably preoccupied with the immediate problems of the Great Depression, the generation of economists that came to the forefront in the 1930s also looked ahead to the long-term consequences of the crisis and proposed various solutions to prevent its recurrence. Theodore Rosenof examines the long-run theories and legacies of four of the leading members of this generation: John Maynard Keynes of Great Britain, who influenced the New Deal from afar; Alvin Hansen and Gardiner Means, who fought over the direction of New Deal policy; and Joseph Schumpeter, an opponent of the New Deal. Rosenof explores the conflicts that arose among long-run theorists, arguing that such disputes served eventually to set the stage for the emergence and domination of a short-run Keynesian approach to economic policy that collapsed under the impact of 1970s stagflation. Tracing the subsequent revival of long-run theories, Rosenof demonstrates their relevance to an understanding of the economy's problems over the past quarter-century and to the current debate over public policy. A UNC Press Enduring Edition -- UNC Press Enduring Editions use the latest in digital technology to make...

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Economics in the Long Run By Theodore Rosenof

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