ECLECTICS:WHAT DID WE LEARN FROM KEYNES?PART 21

was thought every society could bargain the right size of economic growth,it desired by equally manipulating policies to give the rightcombination of unemployment and inflation to attain this desiredgrowth.The deployment of effective macroeconomic model made the goal much more effective to attain rather than mere palliative use of institutional policies deployed to the wits'end.Simple and straightforward keynesian logics provided the solution:tax less and spend more in an occasion of sluggish productivity and unemployment.Tax more and spend less,with the policies,moving in anticlockwise direction.The stagflation worried the 70s and the early 80s.The keynesians generally by their tradition have placed much more emphasis on fiscal policy than the monetarists belief,enjoyed debates in discretionary public spending and government intervention as key to economic stability.It was well timed to solve the depression problems and often regarded keynesian economics as crisis economics or depression economics.It truly