suggestions of "New Keynesian" scholars who propose standard modifications to select assumptions of Keynes' General Theory. But … future ones-macroeconomic theory must become attuned to present-day conditions. Governments need to intervene in asset … Problems with New Keynesian Economics -- Chapter 6: Why Unemployment Persists -- Chapter 7: Wall Street and Main Street …

expenditures, in combination with re-distribution policies in favour of labour and low-income households, assisted by central banks …

–“natural rate theory”- dominated interpretations of economic trends and policy prescriptions since the 1970s. Public policy …. Economic trends were filtered through the lens of the “natural rate theory,” focusing on labor market institutions only and … confronts the economic trends with the interpretations of the “natural rate theory” and argues that they hardly fitting the …