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Aggregate Demand and Supply

A Critique of Orthodox Macroeconomic Modelling

  • Book
  • © 1998

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Editors:
  1. B. Bhaskara Rao

    1. School of Economics, University of New South Wales, Australia

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Table of contents (11 chapters)

  1. Front Matter

    Pages i-xvi
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  2. Introduction

    • B. Bhaskara Rao
    Pages 1-10

  3. Aggregate Demand in Principles Textbooks

    • Ken McCormick, Janet M. Rives
    Pages 11-23

  4. Aggregate Demand Curves: A Guide to Use and Abuse Revisited

    • Peter H. Hall, Malcolm L. Treadgold
    Pages 25-43

  5. What is the Matter with Aggregate Demand and Supply?

    • B. Bhaskara Rao
    Pages 45-66

  6. Walrasian, Non-Walrasian and Post-Walrasian Perspectives on the ADAS Model: Theoretical and Pedagogical Implications

    • Ralph C. Allen, Jack H. Stone
    Pages 67-81

  7. The ADAS Model: Two into One Won’t Go

    • Roy H. Grieve
    Pages 83-94

  8. Defending ADAS: A Perspective on the ADAS Controversy

    • Peter Kennedy
    Pages 95-106

  9. Theoretical Inconsistencies in the ADAS Model: Can the Model be Rehabilitated?

    • T. Windsor Fields, William R. Hart
    Pages 107-136

  10. Acceptable and Unacceptable Dirty Pedagogy: The Case of ADAS

    • David Colander, Peter Sephton
    Pages 137-154

  11. Aggregate Demand and Supply Analysis: A Story in the Wrong Language

    • John W. Nevile
    Pages 155-175

  12. A Simple Analysis of Price and Output Determination: A Model with Imperfect Competition

    • Corrado Benassi, Alessandra Chirco, Caterina Colombo
    Pages 177-208

  13. Back Matter

    Pages 209-228
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Keywords

About this book

'I wish Professor Rao and his collaborators every success in ensuring that future generations of students do not have to put up with logically incoherent foundations to their understanding of modern economic systems' - G.C. Harcourt, Jesus College, Cambridge There is now an increasing realisation that the popular textbook macroeconomic model of aggregate demand and supply is logically incorrect. While there is a broad agreement among the critiques on these logical flaws there has been no such agreement on how the basic textbook macromodel should be modified. The essays in this volume contain very promising alternative models which will significantly influence the way macroeconomics will be taught in the future.

Editors and Affiliations

  • School of Economics, University of New South Wales, Australia

    B. Bhaskara Rao

About the editor

RALPH C. ALLEN Professor of Economics, Valdosta State University, Georgia, USA CORRADO BENASSI Associate Professor of Economics, University of Bologna, Italy ALESSANDRA CHIRCO Lecturer in Macroeconomics, University of Bologna DAVID COLANDER Christian A. Johnson Distinguished Professor of Economics, Middlebury College, Vermont CATERINA COLOMBO Lecturer in Economics, University of Ferrara, Italy WINDSOR FIELDS Professor of Economics, James Madison University, Virginia, USA ROY H. GRIEVE University of Strathclyde, Glasgow PETER HALL Associate Professor of Economics, Australian Defence Force Academy, University of New South Wales, Canberra, Australia PETER KENNEDY Professor of Economics, Simon Fraser University, British Columbia, Canada KEN MCCORMIC Professor of Economics, University of North Iowa JOHN W. NEVILE Visiting Professor and Director of the Centre for Applied Economic Research, University of New South Wales JANET M. RIVES Professor of Economics, University of North Iowa PETER SEPHTON Professor of Economics, University of New Brunswick JACK STONE Associate Professor of Economics, Spelman College, Atlanta, Georgia, USA MALCOM TREADGOLD Professor of Economics, University of New England, Armidale, Australia.

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