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Neo-Keynesianism in the 70s

jimtimmy
Posts: 3,953
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1/31/2012 3:14:10 PM
Posted: 4 years ago
At 1/31/2012 2:12:00 PM, komodo wrote:
Why was neo-keynesianism no longer approporiate in the 1970s?

Stagflation disproved Keynesian theory.
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komodo
Posts: 5
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1/31/2012 3:33:11 PM
Posted: 4 years ago
At 1/31/2012 3:14:10 PM, jimtimmy wrote:
At 1/31/2012 2:12:00 PM, komodo wrote:
Why was neo-keynesianism no longer appropriate in the 1970s?

Stagflation disproved Keynesian theory.

Thanks for the reply. Would you also argue that structural changes in capitalism had a part to play and if so to what extent.
Reasoning
Posts: 4,456
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1/31/2012 3:37:46 PM
Posted: 4 years ago
At 1/31/2012 3:33:11 PM, komodo wrote:
At 1/31/2012 3:14:10 PM, jimtimmy wrote:
At 1/31/2012 2:12:00 PM, komodo wrote:
Why was neo-keynesianism no longer appropriate in the 1970s?

Stagflation disproved Keynesian theory.

Thanks for the reply. Would you also argue that structural changes in capitalism had a part to play and if so to what extent.

No. Structural changes played no part.
"What we really ought to ask the liberal, before we even begin addressing his agenda, is this: In what kind of society would he be a conservative?" - Joseph Sobran
16kadams
Posts: 10,497
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2/1/2012 8:08:34 AM
Posted: 4 years ago
At 1/31/2012 3:14:10 PM, jimtimmy wrote:
At 1/31/2012 2:12:00 PM, komodo wrote:
Why was neo-keynesianism no longer approporiate in the 1970s?

Stagflation disproved Keynesian theory.

This^
https://www.youtube.com...
https://rekonomics.wordpress.com...
"A trend is a trend, but the question is, will it bend? Will it alter its course through some unforeseen force and come to a premature end?" -- Alec Cairncross
Starcraftzzz
Posts: 487
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2/4/2012 4:16:14 PM
Posted: 4 years ago
At 1/31/2012 3:14:10 PM, jimtimmy wrote:
At 1/31/2012 2:12:00 PM, komodo wrote:
Why was neo-keynesianism no longer approporiate in the 1970s?

Stagflation disproved Keynesian theory.

If only Austrians and Conservatives accepted facts and economic circumstances like the Old Keynesians did