xref %PDF-1.6 262 0 obj <> !�&. [����y���i�f֣!���.�3߫J�7��B���7vc�t0�:0vm!�+3tQRtڊZ"g��Uř`��}�����\�߱z����a� X����lֲ],(�tְ��s`�M��Lp�3�����O\S]�6�@�w��_��.�Y��J�����ˣ��xEM����V:���'1������$+�S�R���۪~3ɲ+m��)�`��^j9p��FH�}e�0) j0U� �KT��V>UZ��O�"��iI��&K�x�u�7qP��Ph���7�b_���dQDK�h�Q37|?v��Vm���ۿ{�4Y�%���1����g=�n� �.zJ#�w�c���l-a p�$?i�t����T��u�x���+�(q���N��2������ ҍ?N@��e)L. 1 0 obj<>/ExtGState 4 0 R>>/Parent 718 0 R>> Keynesian economics dominated economic theory and policy after World War II until the 1970s, when many advanced economies suffered both inflation and slow growth, a condition dubbed “stagflation.” Keynesian the-ory’s popularity waned then because it had no appropri-ate policy response for stagflation. Post-orthodox econometrics 133 Paul Ormerod 10. Keynesian economics is a theory that says the government should increase demand to boost growth. "k�g��f�JQ��ץ� endobj 264 0 obj 0000006504 00000 n %PDF-1.2
After examining Keynes‟ economic theory this paper will illustrate how his theory influenced Australian government economic policy development from 1930, the pre-Keynesian era, to 1949 the height of the Keynesian era. The admin-istered, normal cost, and mark up price doctrines are explained in parts I–III of the book, as many of their theoretical arguments are important for developing the subsequent foundation. >> endobj endobj 0000000654 00000 n stream
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