A Post Keynesian Positive Contribution to Theory
A school of self-styled post-Keynesians regard any synthesis or reconciliation, in substance or language, of Keynes and neoclassical economics, as a betrayal of the revolution. They reject equilibrium analysis altogether, stress the historical, institutional, and evolutionary aspects of economic development, and emphasize the macroeconomic implications of the noncompetitive structure of modern economies. Their valid points do not add up to a coherent theory. (Tobin, 1985, p. 115, emphasis added)
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