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2017 | OriginalPaper | Buchkapitel

18. The Standard Model and Alternative Perspectives

verfasst von : Karl Seeley

Erschienen in: Macroeconomics in Ecological Context

Verlag: Springer International Publishing

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Abstract

Part III made a connection between the short run and the long run, but only in a superficial way. The long run was just “given,” as if by some natural evolution of the economy’s productive inputs. The economy’s “actual” output then varied around the “potential” output, depending on whether we were in a booming or recessionary phase of the business cycle. This chapter looks at the ways that business cycles and the policy responses to them may affect the path of long-run growth and considers different ways that influence could run. The rest of the chapter looks at a small selection of alternatives to this neoclassical synthesis.

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Vorheriges Kapitel Policy Assessment

Nächstes Kapitel Resource Constraints

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Named for the infamous Boston financial swindler Charles Ponzi.

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Titel: The Standard Model and Alternative Perspectives
verfasst von: Karl Seeley
Verlag: Springer International Publishing
Buch: Macroeconomics in Ecological Context
Print ISBN: 978-3-319-51755-1

Electronic ISBN: 978-3-319-51757-5

Copyright-Jahr: 2017
DOI: https://doi.org/10.1007/978-3-319-51757-5_18