JOURNAL ARTICLE

Debates in Macroeconomics from the Great Depression to the Long Recession: Cycles, Crises and Policy Responses.

  • Published In: Journal of the History of Economic Thought (Cambridge University Press), 2024, v. 46, n. 1. P. 165 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Mehrling, Perry 3 of 3

Abstract

The article discusses Arie Arnon's book, "Debates in Macroeconomics from the Great Depression to the Long Recession: Cycles, Crises and Policy Responses." The book examines the evolution of macroeconomics from the Great Depression to the global financial crisis of 2008-09. Arnon argues that the response to the Great Depression led to the creation of macroeconomics as a subfield of economics, but the response to the more recent crisis did not result in a similar transformation. The article suggests that broader social, philosophical, and methodological debates within economics explain this difference. Arnon also highlights the potential for new directions in macroeconomics, drawing on historical figures like John Hicks and Friedrich Hayek. [Extracted from the article]

Additional Information

  • Source:Journal of the History of Economic Thought (Cambridge University Press). 2024/03, Vol. 46, Issue 1, p165
  • Document Type:Product Review
  • Subject Area:Economics
  • Publication Date:2024
  • ISSN:1053-8372
  • DOI:10.1017/S1053837223000251
  • Accession Number:175942310
  • Copyright Statement:Copyright of Journal of the History of Economic Thought (Cambridge University Press) is the property of Cambridge University Press and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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