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The historical place of the 'Friedman-Phelps' expectations critique.

Abstract:

The ‘expectations critique’, usually attributed to Friedman or Phelps and dated towards the end of the 1960s, in fact originates much earlier. And rather than being an insight properly attributable to a particular individual, it was, by that time, a commonplace of economic discussion. This much is easy to establish. It is argued that the common attribution arises at least in part because the Keynesians unwisely chose to express their disagreement with Friedman in terms of expectations rath...

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Publisher copy:
10.1080/09672560903114875

Authors


Publisher:
Taylor and Francis
Journal:
European Journal of the History of Economic Thought More from this journal
Volume:
17
Issue:
3
Pages:
493 - 511
Publication date:
2010-01-01
DOI:
ISSN:
1469-5936
Language:
English
UUID:
uuid:241ca113-e1e8-4485-967e-310f33ec283b
Local pid:
oai:economics.ouls.ox.ac.uk:14976
Deposit date:
2011-08-16

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