This paper asks whether the post-Keynesian or New Keynesian paradigm provides a more realistic description of the effects of fiscal policy on output and consumption. I establish some macro and microeconomic stylized facts on fiscal multipliers and marginal propensities to consume based on the...

Fun and Useful -- Welcome! -- Dead Men’s Wrong Ideas? -- Pioneers and Contenders -- Wealth and Power: Mercantilism -- The Physiocrats and Law of Nature -- Classical School -- Adam Smith and the Invisible Hand of the Market Mechanism -- Thomas Malthus and Effectual Demand -- David Ricardo and...

In this paper the view of humankind and nature upon which the thinking of Malthus is founded will be reflected on and contrasted with the opposed understanding of his contemporary Wordsworth. We show that the economic considerations of both are based decidedly on the premise of these views, and...