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Re: New vs. Post Keynesians 26 Jan 1994 00:39:50 -0700 from <ECWFM@cc.newcastle.edu.au>

I, for one, agree with Bill Mitchell that Marx was really the
founder of macroeconomics (with assists from Malthus, Sisimondi,
etc.)  However, I find that the Clower-Leijonhufvud-(early)Barro-
(early)Grossman-Patinkin school adds something to an economist's
kit of tools that helps us understand the world and to teach
students. (It's part of *my* attack on the whole idea of the
marginal physical product of labor.) One doesn't have to accept
the efforts to integrate effective demand failures into the
Walrasian framework.

sincerely,

Jim Devine   BITNET: jndf@lmuacad    INTERNET: jdevine@xxxxxxxxxxxxxxx
Econ. Dept., Loyola Marymount Univ., Los Angeles, CA 90045-2699 USA
310/338-2948 (off); 310/202-6546 (hm); FAX: 310/338-1950
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