Insights Blog

An Analysis of Paul Krugman's Macroeconomic Theory

May 8, 2013

Lance Taylor, SCEPA Faculty Fellow and Economics Professor Emeritus at The New School, analyzes Paul Krugman's "IS/LM" macroeconomic model.

His analysis includes a discussion of the theory's origins in the history of economic thought and ends in a critique that the policy implications may not be robust.