The Queen didn’t ask Keynesians about not predicting the 1970s stagflation, a phenomenon their macroeconomics strictly forbade

Source: Kehoe, Midrigan and Pastorino 2018.

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2 thoughts on “The Queen didn’t ask Keynesians about not predicting the 1970s stagflation, a phenomenon their macroeconomics strictly forbade

  1. nottrampis

    Jim,

    Get to know your theory. I do not recall a liquidity trap in the 70s or in the 50s or 60s for that matter. It wasn’t keynesianism that brought forth stagflation

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    Reply

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