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Robert Boyer
An Analytical History of Macroeconomic Theory since John Maynard Keynes
(General Theory, 1936)

Scholar in Residence Lectures 2015

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This lecture provides a panorama of the various paradigms and models that have been expounded since the foundation of macroeconomics. Whereas the many transformations of capitalist economies have demanded an updating of Keynes’ core hypotheses, the economic profession has been obsessed by a grand reunification of micro theory and macro economics. The victory of Walrasian foundations has not only created axiomatic foundations but also a complete irrelevance of theory for explaining the dynamics of innovation, the consequences of an extended welfare system, the opening of national economies, and, finally, the hegemony of finance.
Important publications
  • Ingrao, B., Israel, G.: The Invisible Hand: Economic Equilibrium in the History of Science. Cambridge: MIT Press 1990.

  • Caballero, R. J.: Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome. In: Journal of Economic Perspectives 24(4), 85-102 (2010).

    Material used by this session
  • Boyer, R.: The Form of Organization Implicit in the General Theory: An Interpretation of the Success and Crisis of Keynesian Economic Policies. In: Barrère, A. (ed.), Keynesian Economic Policies. London: Macmillan 1990, 117-139.

  • Boyer, R.: Macroeconomics after the Crisis: Bringing Finance Back In. In: Benner, M. (ed.), Before and Beyond the Global Economic Crisis: Economics, Politics and Settlement. Cheltenham: Edward Elgar, 72-93 (2013).

    Robert Boyer presently is an Associate Researcher at the Institut des Amériques, Vanves, France. He was a Research Director (Directeur de recherche) at the Centre national de la recherche scientifique (CNRS), Professor (Directeur d’études) at the Ecole des hautes études en sciences sociales (EHESS) and has worked at the Centre pour la recherche économique et ses applications (CEPREMAP). His major fields are: institutional and historical macroeconomics, innovation and growth analysis, labor markets and wage labor nexus, international comparisons of capitalisms, European integration, financial crises, and the history of economic doctrines and theories. Since the early 1970s, he has been a contributor to the Regulation Theory that investigates the factors that shape the institutional and technological long-term evolutions of capitalist economies.
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