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Seven Schools of Macroeconomic Thought offers an excellent survey of various macroeconomic topics that feature prominently in the research agenda and have inspired both theoretical and policy debate. The book presents an authoritative and comprehensive summary and original critique of macroeconomic approaches by a scholar whose own contribution to the field is considerable.
In each of his seven chapters, the author reviews one school of economic thought. These are: the Keynesian school of macroeconomics; the monetarist school; the New Classical school; the New-Keynesian school; supply side macroeconomics, and `non-monetary' models of macroeconomics - the real business cycle theory and the 'structuralist school' which views changes in unemployment as the outcome of shifts in the structural characteristics of the economy.
- Sales Rank: #1546220 in eBooks
- Published on: 1990-07-12
- Released on: 1990-07-12
- Format: Kindle eBook
Review
"Readers already familiar with the macro-economics landscape will find this volume illuminating and worthwhile"
Times Higher Education Supplement
"In most cases it is stimulating, if not instructive, to see well-known theories discussed from another perspective and in this respect the present book is no exception."
Journal of Institutional and Theoretical Economics
About the Author
Edmund S. Phelps is a Professor of Political Economy at Columbia University.
Most helpful customer reviews
5 of 5 people found the following review helpful.
Needs a wider audience
By Wignall
Phelps, who recently won a Nobel Prize for his economics research, wrote this book several years ago and yet it has lost none of its clarity and style. It's chapter/essays, each providing a sharply focused review of a school of economics, is very good. I really wish there were a new paperback version of this for students, journalists, and if they would read it-- politicians. This may not keep you up turning pages to midnight, but if you're interested in the scope economics and how it has developed this a wonderful source.
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