What They Were Thinking Then: The Consequences for Macroeconomics during the Past 60 Years
探讨了凯恩斯宏观经济学早期发展，特别是《通论》出版后大爆炸时期，标准宏观经济学演变为“凯恩斯-新古典综合”时丢弃了《通论》的许多洞见，其简化导致了金融体系监管惰性和对通胀预期加速主义考虑的狭隘应用。
This article explores the development of Keynesian macroeconomics in its early years, and especially in the Big Bang period immediately after the publication of The General Theory. In this period, as standard macroeconomics evolved into the “Keynesian-neoclassical synthesis,” its promoters discarded many of the insights of The General Theory. The paradigm that was adopted had some advantages. But its simplifications have had serious consequences—including immense regulatory inertia in response to massive changes in the financial system and unnecessarily narrow application of accelerationist considerations (regarding inflation expectations).