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Modern macroeconomics can be said to have begun with Keynes and the publication of his book The General Theory of Employment, Interest and Money in 1936. [22] Keynes expanded on the concept of liquidity preferences and built a general theory of how the economy worked.
[2] [3] Macroeconomists study topics such as output/GDP (gross domestic product) and national income, unemployment (including unemployment rates), price indices and inflation, consumption, saving, investment, energy, international trade, and international finance. Macroeconomics and microeconomics are the two most general fields in economics. [4]
Jones wrote the book Hive Mind: How Your Nation's IQ Matters So Much More Than Your Own, which builds on his research on the relationship between IQ and national productivity. [15] It was released in November 2015 by Stanford University Press .
The 4% Solution: Unleashing the Economic Growth America Needs. New York: Crown Business. pp. 27– 41. ISBN 978-0-307-98614-6. Lucas, Robert E. Jr.; Moll, Benjamin (October 2011). "Knowledge Growth and the Allocation of Time". Working Paper Series no. 17495. National Bureau of Economic Research. doi: 10.3386/w17495
Robert Joseph Barro (born September 28, 1944) is an American macroeconomist and the Paul M. Warburg Professor of Economics at Harvard University. [1] Barro is considered one of the founders of new classical macroeconomics, along with Robert Lucas Jr. and Thomas J. Sargent. [2]
Sargent has also been a pioneer in introducing recursive economics to academic study, especially for macroeconomic issues such as unemployment, fiscal and monetary policy, and growth. His series of textbooks, co-authored with Lars Ljungqvist , are seminal in the contemporary graduate economics curriculum.
The minority view is represented by post-Keynesian economists, all of whom accept Keynes's fundamental critique of the neoclassical concept of long-run equilibrium, and some of whom think The General Theory has yet to be properly understood and repays further study. In 2011, the book was placed on Time ' s top 100 non-fiction books written in ...
Dean Baker (born July 13, 1958) is an American macroeconomist who co-founded the Center for Economic and Policy Research (CEPR) with Mark Weisbrot. Baker has been credited as one of the first economists to have identified the 2007–08 United States housing bubble .