General Theory (Luzetti & Ohanian)

The General Theory of employment, interest, and money after 75 years: the importance of being in the right place at the right time by Matthew N. Luzzeti and Lee E. Ohanian. This paper studies why the General Theory had so much impact on the economic profession though the 1960s, why that impact began to wane in the 1970s, and why many economic policymakers cling to many of the tenets of the General Theory. PDF attached.