Real Business Cycles Supply Side Economics. The Real Economy Neoclassical (Supply Side) Economics suggests that business cycles are the result of random.
X. Keynesian model of a closed economy. John Maynard Keynes 1883-1946 Cambridge, UK Thinker – economics, logic, probability Practitioner – Treasury during.
VII Keynesian revolution - theory. Remark Lectures VII and VIII – closed economy only But see Lectures XI and XII.