Titlebook: Critique of the New Consensus Macroeconomics and Implications for India; Dilip M. Nachane Book 2018 Springer Nature India Private Limited

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https://doi.org/10.1007/978-81-322-3920-8Global Crisis; Macroeconomic Policy; New Consensus Macroeconmics; Rational Expectations Hypothesis; Effi

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Critique of the New Consensus Macroeconomics and Implications for India978-81-322-3920-8Series ISSN 2198-0012 Series E-ISSN 2198-0020

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Dilip M. NachanePresents a systematic and balanced critique of the New Consensus Macroeconomics.Discusses both theoretical aspects and the corresponding policy implications.Suggests a profound re-orientation of curre

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https://doi.org/10.1007/978-3-7091-2700-1d be persistent in a capitalist economy. The received theory at that time (which Keynes dubbed as . but which today is usually termed as .) attributed this hysteresis in unemployment to the downward rigidity of nominal wages due to “money illusion” on the part of workers. We begin this introductory

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