scholarly journals Introduction: what’s wrong with Keynesian economic theory?

Author(s):  
Steven Kates
2021 ◽  
Author(s):  
Bence Kiss-Dobronyi ◽  
Dora Fazekas ◽  
Hector Pollitt

AbstractThe article discusses how and why Green Recovery could be beneficial for the Visegrad countries based on a modelling exercise using the E3ME macroeconometric model. Green Recovery is defined as including policies in recovery plans that not only target economic recovery, but also contribute to environmental targets. The paper proposes that a Green Recovery could be valuable and suitable for the region contributing to both restoring employment and boosting economic activity as well as reaching climate goals. This is tested through a macroeconomic simulation, using the E3ME model. E3ME is built on Post-Keynesian economic theory and on econometric estimations of macroeconomic relationships. The results of the analysis focus on three dimensions: (1) social – employment, (2) environmental – level of CO2 emissions and (3) economic activity – gross domestic product (GDP). Outcomes indicate that a green recovery can shorten the time needed for employment and economic recovery as well as contributes to CO2 emission reductions. In Hungary, Czechia and Poland, the impact persists into the long-term; however, the paper also concludes that countries with high reliance on coal (e.g. Poland) could return to coal in the long term if no further policies are introduced.


1986 ◽  
Vol 79 (5) ◽  
pp. 387-391
Author(s):  
Richard H. Williams ◽  
Roy D. Mazzagatti

In mathematics and other scientific disciplines a common practice is to name a theory, an equation, and other discoveries in honor of the scientist who pioneered the investigation. Some examples of such expressions are Galois theory, Fahrenheit scale, Freudian psychoanalysis, pasteurization, Zorn's lemma, Planck's constant, Linnaean system of botanical classification, Hilbert space, Darwin's theory of evolution, Halley's comet, Keynesian economic theory, Mendelian genetics, and so on.


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