Edmond Malinvaud’s Criticisms of the New Classical Economics

Restoring the Nature and the Rationale of the Old Keynesians’ Opposition

Bibliographic Data

ID21634697
AuthorsMatthieu Renault (0000-0003-4992-4821, corresponding author)
Year2020
Volume42
Issue4
Pages563-585
Publication date2020-12-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueJournal of the History of Economic Thought (JOURNAL)
Journal identifiersISSN: 1053-8372 • E-ISSN: 1469-9656
PublisherCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/s1053837219000610
OpenAlexW3123699089
LanguageEN
Citations received4
References cited51

Unlike standard accounts, recent research in the history of macroeconomics has given increasing attention to the Old Keynesians’ criticisms of the New Classical Economics. In this paper, I address the case of Edmond Malinvaud, who began opposing the New Classical Economics from the early 1980s and did so throughout the following thirty years. This study shows that his opposition was radical, i.e., multi-dimensional and systematic, and owes to the methodology and the practice of macroeconometric modeling. In turn, this twofold result sheds light on the nature and the rationale of the Old Keynesians’ opposition to the New Classical Economics from the 1970s onwards, which can be interpreted along the same lines

Economics · Keynesian economics · Neoclassical economics · New classical macroeconomics · Political science · Politics · Positive economics · Economic Theory and Institutions · Economic Theory and Policy · Law · Monetary Policy and Economic Impact

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