“Although Keynes’s General Theory provides the foundation for much of our current understanding of economic fluctuations, it is important to remember that classical economics provides the right answers to many fundamental questions.”

N. Gregory Mankiw]], Macroeconomics, Preview ; Cited in: David Colander (2005). 'The Stories Economists Tell. p. 182
2000s -

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Although Keynes’s General Theory provides the foundation for much of our current understanding of economic fluctuations…" by N. Gregory Mankiw?
N. Gregory Mankiw photo
N. Gregory Mankiw 16
American economist 1958

Related quotes

Gordon Brown photo

“Our new economic approach is rooted in ideas which stress the importance of macro-economics, post neo-classical endogenous growth theory and the symbiotic relationships between growth and investment, and people and infrastructure.”

Gordon Brown (1951) British Labour Party politician

Michael White, "The gift of tired tongues", The Guardian, 30 September 1994; Norman Macrae, "You've never had it so incoherent", Sunday Times, 2 October 1994.
Speech at an economic seminar, Tuesday 27 September 1994.
Member of Parliament

Ragnar Frisch photo

“An important object of the Journal should be the publication of papers dealing with attempts at statistical verification of the laws of economic theory, and further the publication of papers dealing with the purely abstract problems of quantitative economics, such as problems in the quantitative definition of the fundamental concepts of economics and problems in the theory of economic equilibrium.
The term equilibrium theory is here interpreted as including both the classical equilibrium theory proceeding on the lines of Walras, Pareto, and Marshall, and the more general equilibrium theory which is now beginning to grow out of the classical equilibrium theory, partly through the influence of the modern study of economic statistics. Taken in this broad sense the equilibrium problems include virtually all those fundamental problems of production, circulation, distribution and consumption, which can be made the object of a quantitative study. More precisely: The equilibrium theory in the sense here used is a body of doctrines that treats all these problems from a certain point of view, which is contrasted on one side with the verbal treatment of economic problems and on the other side with the purely empirical-statistical approach to economic problems”

Ragnar Frisch (1895–1973) Norwegian economist

Frisch (1927). as quoted in: Bjerkholt, Olav, and Duo Qin. A Dynamic Approach to Economic Theory: The Yale Lectures of Ragnar Frisch. Routledge, 2010: About "Oekonometrika"
1920

Richard A. Posner photo
Erich Fromm photo

“The application of psychoanalysis to sociology must definitely guard against the mistake of wanting to give psychoanalytic answers where economic, technical, or political facts provide the real and sufficient explanation of sociological questions.”

Erich Fromm (1900–1980) German social psychologist and psychoanalyst

"Psychoanalyse und Soziologie" (1929); published as "Psychoanalysis and Sociology" as translated by Mark Ritter, in Critical Theory and Society : A Reader (1989) edited by S. E. Bronner and D. M. Kellner
Context: The application of psychoanalysis to sociology must definitely guard against the mistake of wanting to give psychoanalytic answers where economic, technical, or political facts provide the real and sufficient explanation of sociological questions. On the other hand, the psychoanalyst must emphasize that the subject of sociology, society, in reality consists of individuals, and that it is these human beings, rather than abstract society as such, whose actions, thoughts, and feelings are the object of sociological research.

Robert Fogel photo

“Although Hayek ascribed a primarily monetary source to economic fluctuations, he was not a monetarist as this term came to be used.”

Alan O. Ebenstein (1959) American political scientist, educator and author

Hayek's Journey: The Mind of Friedrich Hayek (2003)

Shankar Dayal Sharma photo

“Indeed, I find it illuminating to consider to what extent our "classical conditions" for economic growth are satisfied in the current, monopolistic phase of capitalism.”

Paul A. Baran (1909–1964) American Marxist economist

Source: The Political Economy Of Growth (1957), Chapter Three, Standstill And Movement Under Monopoly Capitalism, I, p. 51

Milton Friedman photo
Herbert A. Simon photo

“We need to augment and amend the existing body of classical and neoclassical economic theory to achieve a more realistic picture of economic process.”

Herbert A. Simon (1916–2001) American political scientist, economist, sociologist, and psychologist

Herbert A. Simon (1986) in Preface to: Gilad & Kaish (eds.), Handbook of Behavioral Economics, p. xvi.
1980s and later

Related topics