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Since its inception, the IS-LM representation of Keynes's General Theory has been controversial, ranging from Hicks's “suggested interpretation” to Robinson's “bastard Keynesianism” to Solow's “trained intuition”. In this chapter, a number of themes and key questions are dealt with, including those involving (1) cross-fertilization and group efforts in its development; (2) equations and diagrams; and (3) language and symbols utilized in its applications. The nature of the “Keynesian revolution” and its relation to IS-LM, and the issue of whether it is a static and/or dynamic interpretation of Keynes' General Theory are also discussed.

Original languageEnglish
Title of host publicationThe Elgar Companion to John Maynard Keynes
PublisherEdward Elgar Publishing Ltd.
Number of pages6
ISBN (Electronic)9781788118569
ISBN (Print)9781847200082
StatePublished - 1 Jan 2019

Bibliographical note

Publisher Copyright:
© Robert W. Dimand and Harald Hagemann 2019.


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