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Tag: Equilibrium
Robert Mundell: nothing optimal
Noted neoclassical mainstream economist, Robert Mundell, has died at the age of 88 years. Mundell won a Nobel (Riksbank) prize in economics for his extension of general equilibrium theory as applied to Keynesian macroeconomics into the international arena. Whereas the neoclassical equilibrium version of Keynes’ macromodel (called ‘bastardised Keynesianism’ by Joan Robinson) described a ‘closed’ […]
Robert Mundell: Nothing optimal