Wednesday, September 28, 2016

Did Nordhaus destroy PS's economics text ....I doubt it ..though he helped !

Samuelson's mind contained an unstable Keynesian isotope

This wonderful paradigm in his head unfortunately
decayed over the decades from 1940  to 1990

Yes the unfolding facts  post 1946 may have seemed to him
The cause of his growing non Keynesianism
But it's clear
Facts were selected by his mind that confirmed his new world synthesis
Of Marshall Walras and Keynes
Alas the M and  W  isotope remained hideously stable over time
Coming to dominate the synthesis by the mid 70's
And nearing obliteration of the K isotope by 1990 !!

Yes after there was a sort of dreaming Samuelson
Where the ghost of the K isotope walked the halls of late edition " economics "

Nordhaus ?

Like an anti ghost of Xmas coming
Nordy cheered on the  new neoclassical hegemony of the editions after his ascension to co author
In the mid Reagan quagmire