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- catalog abstract ""This book examines the internal dynamics of the economics profession and explores the process by which two Chicago economists, Milton Friedman and George Stigler, influenced the direction of world history in the last quarter of the twentieth century. In macroeconomics, the quantity theory was economically 'tested' against its hegemonic Keynesian rival and as a result became highly influential. But in microeconomics no comparable body of literature emerged to 'test' the theory of monopolistic competition. Friedman and Stigler both declined to be drawn into the process by which the model of perfect competition could be replaced by a general theory of microeconomics that emphasized the prevalence of market power. This book provides a context for these developments: Stigler's model of the sociology of economic knowledge and Friedman's sceptical view of the appropriate role of econometrics in economic analysis. The book also examines the way in which Friedman infuriated and captivated his Keynsian opponents. Gradually, some Keynsians began to display a more tolerant attitude towards inflation, the societal problem which facilitated the political and economic revolutions of the Thatcher-Reagan years."--Jacket.".
- catalog contributor b12281541.
- catalog created "2000.".
- catalog date "2000".
- catalog date "2000.".
- catalog dateCopyrighted "2000.".
- catalog description ""This book examines the internal dynamics of the economics profession and explores the process by which two Chicago economists, Milton Friedman and George Stigler, influenced the direction of world history in the last quarter of the twentieth century. In macroeconomics, the quantity theory was economically 'tested' against its hegemonic Keynesian rival and as a result became highly influential. But in microeconomics no comparable body of literature emerged to 'test' the theory of monopolistic competition. Friedman and Stigler both declined to be drawn into the process by which the model of perfect competition could be replaced by a general theory of microeconomics that emphasized the prevalence of market power.".
- catalog description "1. Introduction -- 2. 'The Ghosts I Called I Can't Get Rid of Now': the Keynes-Tinbergen-Friedman-Phillips Critique of Keynsian Macroeconometrics -- 3. The Chicago Counter-Revolution and the Sociology of Economic Knowledge -- 4. The Rise of the Natural-Rate of Unemployment Model -- 5. Does the Expectations Trap Render the Natural-Rate Model Invalid in the Disinflationary Zone? -- 6. Language and Inflation -- 7. Friedman and the Walrasian Equations of the Natural-Rate Counter-Revolution.".
- catalog description "Includes bibliographical references and index.".
- catalog description "This book provides a context for these developments: Stigler's model of the sociology of economic knowledge and Friedman's sceptical view of the appropriate role of econometrics in economic analysis. The book also examines the way in which Friedman infuriated and captivated his Keynsian opponents. Gradually, some Keynsians began to display a more tolerant attitude towards inflation, the societal problem which facilitated the political and economic revolutions of the Thatcher-Reagan years."--Jacket.".
- catalog extent "vii, 182 p. ;".
- catalog identifier "0312235755".
- catalog identifier "0333730453".
- catalog issued "2000".
- catalog issued "2000.".
- catalog language "eng".
- catalog publisher "Houndmills, Basingstoke, Hampshire ; New York, N.Y. : Palgrave,".
- catalog subject "330.15/6 21".
- catalog subject "Chicago school of economics.".
- catalog subject "HB98.3 .L435 2000".
- catalog subject "Keynesian economics.".
- catalog tableOfContents "1. Introduction -- 2. 'The Ghosts I Called I Can't Get Rid of Now': the Keynes-Tinbergen-Friedman-Phillips Critique of Keynsian Macroeconometrics -- 3. The Chicago Counter-Revolution and the Sociology of Economic Knowledge -- 4. The Rise of the Natural-Rate of Unemployment Model -- 5. Does the Expectations Trap Render the Natural-Rate Model Invalid in the Disinflationary Zone? -- 6. Language and Inflation -- 7. Friedman and the Walrasian Equations of the Natural-Rate Counter-Revolution.".
- catalog title "The eclipse of Keynesianism : the political economy of the Chicago counter-revolution / Robert Leeson.".
- catalog type "text".