http://www.freeassociations.org/
Strong connection
Weaker connection
Austrians
Supply siders
● Plosser
● Hayek, et al.
● Mundell, et al.
Real business cycle
● Debreu
● Lucas
● Bernanke (4)
● Arrow
Rational
Neoclassical
New monetary/
● Hahn
expectations,
● Jevons
macro consensus
General equilibrium
new classical
● Walras
theory
● Menger
● Pigou
● Malthus
Post-Keynesians
●
Clark
● Marshall
Old Keynesians
New Keynesians
Monetarists
Demand gap
● Minsky
Marginal
● Samuelson
● Mankiw
● Friedman
● Say
● Davidson
productivity
● Hicks
● Stiglitz
● Greenspan
Supply creates
● Kregel
theory
● Tobin
● Blinder
● Keynes (1)
demand
Institutionalists
● Robinson (3)
● Ayres
● Kalecki
● Veblen
● Mitchell
● Smith
● Dillard
Monetary theory of
Business cycles
● Foster
production, institutions
● Commons
● Franklin
● Marx (2)
Theory of law
Labor theory
Monetary theory
● Mosler
of production,
of value
● Mitchell
class struggle,
● Wray
crises
● Ricardo
● Forstater
● Sraffa
● Kelton
Modern Monetary
1. Keynes’s “The General Theory of Employment, Interest and Money” created the field of macroeconomics
2. MMT’s first textbook says that “it is probable” Marx’s theories influenced Keynes
3. Robinson explored how employers could pay workers less than they’re worth
4. This is the school of thought that predominates in central banks and leading universities
5. “The issuer of a currency faces no financial constraints”
Theory (5)
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