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Sun Feb 4 14:30:35 2007 |
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The broad brush claim of Keynes vs. the classics was a common theme in
both the introductory text and macro text that were assigned in my
university courses in the early 1960s. I later learned that the textbook
phenomenon, designed for a two-semester macro-micro course at
universities, was a new invention. I take it that this started with
Samuelson's text and that other writers -- the most popular in the 1960s
being Campbell McConnell -- made the task of teaching the two-semester
course to a large number of bodies much easier. This invention would
have been important to untutored teachers during the 1960s and beyond,
when student demand was rising faster than econ faculty supply of such
teaching.
In other words, my casual reconstruction sees the rise of what we might
call "the myth of Keynes and the classics" being due mostly to the rise
of the textbook. Employing the myth, from this point of view, was a
means for teachers to instill a sense of great importance to the new
macroeconomics. I recall vividly my macro teacher believing that Keynes
had instituted a scientific revolution and that we students were so
lucky to be in the vanguard. Someone in my class might be chosen as the
lead government policy maker in the future. If so, one of my classmates
would have an opportunity to apply the new Keynesian science in order to
guide the macroeconomy to high economic growth, low unemployment, and
minimum inflation. Being a non-skeptic at the time, I remember thinking
of a career as an economist in the same way that I used to think about
fighting against the non-Christians when we sang "Onward Christian
Soldiers" at the end of mass in elementary school. (Fortunately, I did
not choose the latter and I chose the former for an entirely different
reason.)
Do you think my sketch of the textbook and Keynesianism is broadly true?
If so, was it a uniquely U.S. phenomenon?
Pat Gunning
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