Keynes and the new Keynesians

ABSTRACT

The article uses Keynes’ ideas to analyze New Keynesian economics, its assumptions and its most important corollaries. It examines the crucial assumption of New Keynesian economics: the stickiness of prices and wages. Concluded this analysis, these Keynesian new-school’s results and methods are criticized. One carries out the conclusion that only conflicts emerge in the relation between Keynes and New Keynesian economists.

KEYWORDS:
New Keynesian economics; Keynes; history of economic thought