From The Boston Globe:
Keynes’s insights have enormous practical importance, according to
Lance Taylor and Duncan Foley of the New School. Temperamentally
opposite — Foley a brilliant theorist, Taylor a pragmatist influential
in developing nations — they jointly received the Leontief Prize for
Advancing the Frontiers of Economic Thought at Tufts University’s Global
Development and Environment Institute on Monday. But isn’t Keynes now mainstream? No, say Foley and Taylor. The
mainstream still sees economies as inherently moving to an optimal
equilibrium, as Wicksell did. It still says demand causes short-run
fluctuations, but only supply factors, such as the capital stock and
technology, can affect long-run growth.
Read rest
here. Not a surprise for the readers of this
blog.
Don't know what other think, but the title of the Globe's article detracts from the interesting content of the article on Taylor and Foley
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