Two common claims about mid-to-late twentieth century economics are that Walrasian ideas had an influence on the particular version of Keynesian macroeconomics that became dominant during the 1950s and 1960s, and that Walrasian general equilibrium theory passed its zenith in microeconomics at...

Robert W. Clower's article "The Keynesian Counter - Revolution: A Theoretical Appraisal" (1965) deeply influenced the course of Keynesian macroeconomics by contributing to the transition from IS/LM macroeconomics to fix - price theories. Des pite this influence, no scholar proposed to explain...