From Keynesianism to Neoliberalism: Shifting Paradigms in Economics

For the laste 25 years, economic policy and the public´s thinking have been dominated by a conservative economic policy known as neoliberalism.

(...) Two critical tenets of neoliberalism are its theory of income distribution and its theory of aggregate employment determination. (...) In a sense, the American neo-Keynesian position was implicitly a forerunner of today´s neoliberal laber market flexibility agenda.

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