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Subject:
From:
[log in to unmask] (Pat Gunning)
Date:
Sat Mar 3 13:34:44 2007
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In our discussion about Keynes and textbooks, Steve Kates pointed out 
that "before Keynes," economists dealt with at least some of the 
macroeconomic issues under the general category of "business cycles." 
After Keynesian economics, economists began to write about business 
cycles again. An early discussion of some of this literature and the 
theory is contained in Lucas, Robert E. (1977) "Understanding Business 
Cycles." In K. Brunner and A. Meltzer (eds.). Stabilization of the 
Domestic and International Economy. Amsterdam: North Holland.

I was wondering what the difference is, if any, between the 
before-Keynes and after-Keynes approach to business cycles.

In the same vein, do any of the textbooks deal effectively with business 
cycles?

Pat Gunning


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