Abstract
In this symposium I shall play the role in which I was cast, the unreconstructed old Keynesian. Time was when I resisted labels and schools, naively hoping that our fledgling science was outgrowing them. I had, to be sure, been drawn into economics when The General Theory was an exciting revelation for students hungry for explanation and remedy of the Great Depression. At the same time, I was uncomfortable with several aspects of Keynes’ theory, and I sought to improve what would now be called the microfoundations of his macroeconomic relations.
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Tobin, J. (1994). Price Flexibility and Output Stability. In: Semmler, W. (eds) Business Cycles: Theory and Empirical Methods. Recent Economic Thought Series, vol 41. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-1364-9_7
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