<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0185-1667</journal-id>
<journal-title><![CDATA[Investigación económica]]></journal-title>
<abbrev-journal-title><![CDATA[Inv. Econ]]></abbrev-journal-title>
<issn>0185-1667</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Economía]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0185-16672003000300015</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Chicago, Keynes and Fiscal Policy]]></article-title>
<article-title xml:lang="es"><![CDATA[Chicago, Keynes y la política fiscal]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Pérez Caldentey]]></surname>
<given-names><![CDATA[Esteban]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,ECLAC  ]]></institution>
<addr-line><![CDATA[Port-of-Spain ]]></addr-line>
<country>Trinidad and Tobago</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2003</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2003</year>
</pub-date>
<volume>62</volume>
<numero>246</numero>
<fpage>15</fpage>
<lpage>45</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0185-16672003000300015&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0185-16672003000300015&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0185-16672003000300015&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: During the first half of the 1930's, the founders of the Chicago School of economics and John Maynard Keynes in England advocated public works as a cure for unemployment and a way to overcome the Great Depression. Counter cyclical fiscal policy was seen as a feasible strategy to attenuate the phases of the economic cycle and was advocated on the basis of market rigidities and the impotency of monetary policy. By the end of the decade both Chicago economists and Keynes had departed from this fiscal policy stance. The former became concerned with the inflationary consequences of expansionary fiscal policies, especially when there was the temptation to implement them pro cyclically. Ultimately, fiscal issues were overshadowed by monetary policy concerns. Keynes remained an advocate of counter cyclical fiscal policy but recanted from the instruments he had proposed earlier to combat economic fluctuations. Using the framework he developed in the General Theory (1936), he extended the division of income (consumption) and non-income (investment) related categories to the government's budget. Thus, Keynes distinguished between a current (government consumption) and a capital (government investment) budget. The current budget was to be in balance or show a surplus to finance the capital budget, which in turn played the fundamental stabilizing role. This allowed him to advance two different concepts of fiscal policy, capital and deficit budgeting. Capital budgeting, to which he adhered under the assumption of capital scarcity, meant rejecting the short-term stabilization tools associated with deficit budgeting (public works and the use of taxation to alter consumption patterns). Once the capital saturation point was reached fiscal policy could change its focus from investment to consumption and perhaps from capital to deficit budgeting.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: En la primera mitad de la década de los años treinta los padres fundadores de la escuela de economía de Chicago y John Maynard Keynes en Inglaterra propusieron la puesta en marcha de trabajos públicos para combatir el desempleo y sobreponerse a la Gran Depresión. Frente a la rigidez de los precios de mercado y la impotencia de la política monetaria, la política fiscal contra cíclica pasó a ser vista como una estrategia viable y capaz de atenuar las fases del ciclo económico. A finales de la década tanto los economistas de Chicago como Keynes renunciaron al uso de este tipo de incentivos fiscales. Los economistas de Chicago centraron su rechazo en el potencial inflacionario de la política fiscal expansiva y enfocaron sus preocupaciones hacia los aspectos monetarios de la política fiscal. Por su parte Keynes mantuvo su apoyo a la política fiscal contra cíclica absteniéndose de recomendar los instrumentos que había propuesto anteriormente para combatir las fluctuaciones económicas. Utilizando el marco teórico que desarrolló en la Teoría General (1936), Keynes distinguió entre el presupuesto corriente y el de capital. El presupuesto corriente debía mostrar un equilibrio o un superávit con el fin de financiar el gasto en capital que actuaría como estabilizador del ciclo económico. Keynes distinguió así entre dos conceptos de política fiscal (la política fiscal compensatoria y la política fiscal basada en la programación de los gastos de capital). El segundo tipo de política fiscal, válido bajo la suposición de escasez del factor capital, suponía el rechazo de los instrumentos de estabilización fiscal de corto plazo (trabajos públicos y el uso de los impuestos para alterar los patrones de consumo). Más allá del punto de saturación del capital, la política fiscal podría cambiar su enfásis hacia el consumo y su rol compensatorio.]]></p></abstract>
</article-meta>
</front><back>
<ref-list>
<ref id="B1">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Arestis]]></surname>
<given-names><![CDATA[Ph.]]></given-names>
</name>
<name>
<surname><![CDATA[Glickman]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The Modern Relevance of post-Keynesian Economic Policies]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Sharma]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
</person-group>
<source><![CDATA[John Maynard Keynes. Keynesianism into the Twenty-first Century]]></source>
<year>1998</year>
<publisher-loc><![CDATA[Northhampton ]]></publisher-loc>
<publisher-name><![CDATA[Edward Elgar]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B2">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Andrews]]></surname>
<given-names><![CDATA[W.]]></given-names>
</name>
</person-group>
<source><![CDATA[Concise Dictionary of American History]]></source>
<year>1962</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Scribners Sons]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B3">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Artis]]></surname>
<given-names><![CDATA[M. J.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Deficit Spending]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Eatwell]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
</person-group>
<source><![CDATA[The New Palgrave: A Dictionary of Economics]]></source>
<year>1987</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Macmillan]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B4">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Chick]]></surname>
<given-names><![CDATA[V.]]></given-names>
</name>
</person-group>
<source><![CDATA[On Money, Method and Keynes. Selected Essays]]></source>
<year>1992</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[St. Martin&#8217;s Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B5">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Clark]]></surname>
<given-names><![CDATA[J. M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[An Appraisal of the Workability of Compensatory Devices]]></article-title>
<source><![CDATA[The American Economic Review]]></source>
<year>1939</year>
</nlm-citation>
</ref>
<ref id="B6">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Clarke]]></surname>
<given-names><![CDATA[P.]]></given-names>
</name>
</person-group>
<source><![CDATA[The Keynesian Revolution in the Making 1924-1936]]></source>
<year>1990</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Oxford University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B7">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Colander]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Was Keynes a Keynesian or a Lernerian?]]></article-title>
<source><![CDATA[Journal of Economic Literature]]></source>
<year>1984</year>
<volume>XXII</volume>
<page-range>1572-5</page-range></nlm-citation>
</ref>
<ref id="B8">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Davidson]]></surname>
<given-names><![CDATA[P.]]></given-names>
</name>
</person-group>
<source><![CDATA[Post Keynesian Macroeconomic Theory]]></source>
<year>1994</year>
<publisher-loc><![CDATA[Vermont ]]></publisher-loc>
<publisher-name><![CDATA[Edward Elgar]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B9">
<nlm-citation citation-type="">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Davis]]></surname>
<given-names><![CDATA[A. M.]]></given-names>
</name>
</person-group>
<source><![CDATA[Currency and banking in the Province of the Massachusetts Bay]]></source>
<year>2000</year>
</nlm-citation>
</ref>
<ref id="B10">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Davis]]></surname>
<given-names><![CDATA[J. R.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Chicago Economists, Deficit Budgets, and the Early 1930&#8217;s]]></article-title>
<source><![CDATA[The American Economic Review]]></source>
<year>1968</year>
<volume>LVIII</volume>
<numero>3</numero>
<issue>3</issue>
<page-range>476-82</page-range></nlm-citation>
</ref>
<ref id="B11">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Douglas]]></surname>
<given-names><![CDATA[P.]]></given-names>
</name>
</person-group>
<source><![CDATA[Controlling Depressions]]></source>
<year>1935</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[W. W. Norton &amp; Company Inc]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B12">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Douglas]]></surname>
<given-names><![CDATA[P.]]></given-names>
</name>
<name>
<surname><![CDATA[Director]]></surname>
<given-names><![CDATA[Aaron]]></given-names>
</name>
</person-group>
<source><![CDATA[The Problem of Unemployment]]></source>
<year>1931</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[The Macmillan Company]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B13">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Fisher]]></surname>
<given-names><![CDATA[I.]]></given-names>
</name>
</person-group>
<source><![CDATA[The Purchasing Power of Money]]></source>
<year>1985</year>
<publisher-loc><![CDATA[New Jersey ]]></publisher-loc>
<publisher-name><![CDATA[Kelley]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B14">
<nlm-citation citation-type="">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Franklin]]></surname>
<given-names><![CDATA[B.]]></given-names>
</name>
</person-group>
<source><![CDATA[A Modest Enquiry into the Nature and Necessity of a paper-Currency]]></source>
<year>2000</year>
</nlm-citation>
</ref>
<ref id="B15">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Friedman]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The Monetary Theory and Policy of Henry Simons]]></article-title>
<source><![CDATA[The Journal of Law and Economics]]></source>
<year>1967</year>
<volume>10</volume>
</nlm-citation>
</ref>
<ref id="B16">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Friedman]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<source><![CDATA[The Optimum Quantity of Money and Other Essays]]></source>
<year>1969</year>
<publisher-loc><![CDATA[Chicago ]]></publisher-loc>
<publisher-name><![CDATA[Aldine Publishing Company]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B17">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Friedman]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[M. Comments on the Critics]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Gordon]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
</person-group>
<source><![CDATA[Milton Friedman&#8217;s Monetary Framework]]></source>
<year>1982</year>
<publisher-loc><![CDATA[Chicago ]]></publisher-loc>
<publisher-name><![CDATA[The University of Chicago Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B18">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Garvy]]></surname>
<given-names><![CDATA[G.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Keynes and the Economic Activists of Pre-Hitler Germany]]></article-title>
<source><![CDATA[Journal of Political Economy]]></source>
<year>1975</year>
<volume>83</volume>
<numero>2</numero>
<issue>2</issue>
</nlm-citation>
</ref>
<ref id="B19">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Goodwin]]></surname>
<given-names><![CDATA[L.]]></given-names>
</name>
</person-group>
<source><![CDATA[The Populist Moment]]></source>
<year>1978</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Oxford University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B20">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Haley]]></surname>
<given-names><![CDATA[B. F.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The Federal Budget: Economic Consequences of Deficit Financing]]></article-title>
<source><![CDATA[American Economic Review]]></source>
<year>1941</year>
</nlm-citation>
</ref>
<ref id="B21">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Hall]]></surname>
<given-names><![CDATA[P. A.]]></given-names>
</name>
</person-group>
<source><![CDATA[The Political Power of Economic Ideas. Keynesianism Accross Nations]]></source>
<year>1989</year>
<publisher-loc><![CDATA[New Jersey ]]></publisher-loc>
<publisher-name><![CDATA[Princeton University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B22">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Hofstadter]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
</person-group>
<source><![CDATA[The American Political Tradition]]></source>
<year>1974</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Vintage Books]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B23">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Laidler]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
</person-group>
<source><![CDATA[Fabricating the Keynesian Revolution]]></source>
<year>1999</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Cambridge University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B24">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Laidler]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
</person-group>
<source><![CDATA[The Golden Age of the Quantity Theory]]></source>
<year>1991</year>
<publisher-loc><![CDATA[New Jersey ]]></publisher-loc>
<publisher-name><![CDATA[Princeton University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B25">
<nlm-citation citation-type="">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Laidler]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
</person-group>
<source><![CDATA[Highlights of the Bullionist Controversy]]></source>
<year>2000</year>
</nlm-citation>
</ref>
<ref id="B26">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Lekachman]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
</person-group>
<source><![CDATA[Keynes&#8217; General Theory. Reports from Three Decades]]></source>
<year>1964</year>
<publisher-loc><![CDATA[Mexico ]]></publisher-loc>
<publisher-name><![CDATA[Fondo de Cultura Económica]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B27">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Lutz]]></surname>
<given-names><![CDATA[H.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Federal Depression Financing and Its Consequences]]></article-title>
<source><![CDATA[The Harvard Business Review]]></source>
<year>1938</year>
</nlm-citation>
</ref>
<ref id="B28">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Kahn]]></surname>
<given-names><![CDATA[R. F.]]></given-names>
</name>
</person-group>
<source><![CDATA[The Making of Keynes&#8217; General Theory]]></source>
<year>1984</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Cambridge University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B29">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Keynes]]></surname>
<given-names><![CDATA[J. M.]]></given-names>
</name>
</person-group>
<source><![CDATA[Essays in Persuasion]]></source>
<year>1931</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Harcourt, Brace and Company]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B30">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Keynes]]></surname>
<given-names><![CDATA[J. M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[An Open Letter]]></article-title>
<source><![CDATA[The New York Times]]></source>
<year>1955</year>
</nlm-citation>
</ref>
<ref id="B31">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Keynes]]></surname>
<given-names><![CDATA[J. M.]]></given-names>
</name>
</person-group>
<source><![CDATA[The General Theory of Employment, Interest, and Money]]></source>
<year>1964</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[HBJ publishers]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B32">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Keynes]]></surname>
<given-names><![CDATA[J. M.]]></given-names>
</name>
</person-group>
<source><![CDATA[A Treatise on Money]]></source>
<year>1965</year>
<volume>I</volume>
<publisher-loc><![CDATA[London ]]></publisher-loc>
<publisher-name><![CDATA[Macmillan &amp; Co LTD]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B33">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Keynes]]></surname>
<given-names><![CDATA[J. M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Essays in Persuasion]]></article-title>
<source><![CDATA[The Collected Writings of John Maynard Keynes]]></source>
<year>1972</year>
<volume>IX</volume>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[The Macmillan Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B34">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Keynes]]></surname>
<given-names><![CDATA[J. M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The General Theory and After. Part I Preparation]]></article-title>
<source><![CDATA[The Collected Writings of John Maynard Keynes]]></source>
<year>1973</year>
<volume>XIII</volume>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Cambridge University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B35">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Keynes]]></surname>
<given-names><![CDATA[J. M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Activities 1940- 1946]]></article-title>
<source><![CDATA[The Collected Writings of John Maynard Keynes]]></source>
<year>1980</year>
<volume>XXVII</volume>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[The Macmillan Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B36">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Keynes]]></surname>
<given-names><![CDATA[J. M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Activities 1922-1929, Parts I and II]]></article-title>
<source><![CDATA[The Collected Writings of John Maynard Keynes]]></source>
<year>1981</year>
<volume>XIX</volume>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[The Macmillan Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B37">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Knight]]></surname>
<given-names><![CDATA[F.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The Business Cycle, Interest, and Money A Methodological Approach]]></article-title>
<source><![CDATA[The Review of Economic and Statistics]]></source>
<year>1941</year>
<volume>XXIII</volume>
<numero>2</numero>
<issue>2</issue>
</nlm-citation>
</ref>
<ref id="B38">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Knight]]></surname>
<given-names><![CDATA[F.]]></given-names>
</name>
</person-group>
<source><![CDATA[On the History and Method of Economics]]></source>
<year>1963</year>
<publisher-loc><![CDATA[Chicago ]]></publisher-loc>
<publisher-name><![CDATA[University of Chicago Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B39">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Koenig]]></surname>
<given-names><![CDATA[L. W.]]></given-names>
</name>
</person-group>
<source><![CDATA[A Political Biography of Williams Jennings Bryan]]></source>
<year>1971</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[G. P. Putnam&#8217;s Sons]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B40">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Kregel]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Budget Deficits, Stabilization Policy and Liquidity Preference: Keynes&#8217;s Post War Policy Proposals]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Vicarelli]]></surname>
<given-names><![CDATA[F.]]></given-names>
</name>
</person-group>
<source><![CDATA[Keynes&#8217;s Relevance Today]]></source>
<year>1985</year>
<publisher-loc><![CDATA[Philadelphia ]]></publisher-loc>
<publisher-name><![CDATA[University of Pennsylvania Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B41">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Meltzer]]></surname>
<given-names><![CDATA[A. H.]]></given-names>
</name>
</person-group>
<source><![CDATA[Keynes&#8217;s Monetary Theory. A Different Interpretation]]></source>
<year>1990</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Cambridge University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B42">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Myrdal]]></surname>
<given-names><![CDATA[G.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Fiscal Policy in the Business Cycle]]></article-title>
<source><![CDATA[The American Economic Review]]></source>
<year>1939</year>
<numero>^sSupplement</numero>
<issue>^sSupplement</issue>
<supplement>Supplement</supplement>
</nlm-citation>
</ref>
<ref id="B43">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Patinkin]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
<name>
<surname><![CDATA[Keynes]]></surname>
<given-names><![CDATA[Leith J. C.]]></given-names>
</name>
</person-group>
<source><![CDATA[Cambridge and the General Theory]]></source>
<year>1977</year>
<publisher-loc><![CDATA[London ]]></publisher-loc>
<publisher-name><![CDATA[The Macmillan Press LTD]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B44">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Patinkin]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
</person-group>
<source><![CDATA[Anticipations of the General Theory?]]></source>
<year>1982</year>
<publisher-loc><![CDATA[Chicago ]]></publisher-loc>
<publisher-name><![CDATA[The University of Chicago Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B45">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Phillips]]></surname>
<given-names><![CDATA[R. J.]]></given-names>
</name>
</person-group>
<source><![CDATA[The Chicago Plan &amp; New Deal Banking]]></source>
<year>1995</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[M. E. Sharpe]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B46">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Reder]]></surname>
<given-names><![CDATA[M. W.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Chicago Economics: Permanence and Change]]></article-title>
<source><![CDATA[Journal of Economic Literature]]></source>
<year>1982</year>
<volume>XX</volume>
<page-range>1-38</page-range></nlm-citation>
</ref>
<ref id="B47">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Ricardo]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Plan for the Establishment of a National Bank]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Sraffa]]></surname>
<given-names><![CDATA[P.]]></given-names>
</name>
</person-group>
<source><![CDATA[The Works and Correspondence of David Ricardo]]></source>
<year>1951</year>
<volume>IV</volume>
<publisher-loc><![CDATA[Cambridge ]]></publisher-loc>
<publisher-name><![CDATA[Cambridge University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B48">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Scitovsky]]></surname>
<given-names><![CDATA[T.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Lerner&#8217;s Contribution to Economics]]></article-title>
<source><![CDATA[Journal of Economic Literature]]></source>
<year>1984</year>
<volume>XXII</volume>
<page-range>1547-71</page-range></nlm-citation>
</ref>
<ref id="B49">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Seccareccia]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Socialization of Investment]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Arestis]]></surname>
<given-names><![CDATA[Phil]]></given-names>
</name>
<name>
<surname><![CDATA[Sawyer]]></surname>
<given-names><![CDATA[Malcolm]]></given-names>
</name>
</person-group>
<source><![CDATA[The Elgar Companion to Radical Political Economy]]></source>
<year>1994</year>
<publisher-loc><![CDATA[Northampton ]]></publisher-loc>
<publisher-name><![CDATA[Edward Elgar]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B50">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Simons]]></surname>
<given-names><![CDATA[H. C.]]></given-names>
</name>
</person-group>
<source><![CDATA[A Positive Program for Laissez Faire. Some Proposals for a Liberal Economic Policy]]></source>
<year>1934</year>
<publisher-name><![CDATA[Public Pamphlet]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B51">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Simons]]></surname>
<given-names><![CDATA[H. C.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Rules versus Authorities in Monetary Policy]]></article-title>
<source><![CDATA[Journal of Political Economy]]></source>
<year>1936</year>
<volume>XLIV</volume>
<numero>1</numero>
<issue>1</issue>
<page-range>1-30</page-range></nlm-citation>
</ref>
<ref id="B52">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Simons]]></surname>
<given-names><![CDATA[H. C.]]></given-names>
</name>
</person-group>
<source><![CDATA[Economic Policy for a Free Society]]></source>
<year>1962</year>
<publisher-loc><![CDATA[Chicago ]]></publisher-loc>
<publisher-name><![CDATA[The University of Chicago Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B53">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Skidelski]]></surname>
<given-names><![CDATA[P. L.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Keynes and Employment Policy in the Second World War]]></article-title>
<source><![CDATA[Journal of Post Keynesian Economics]]></source>
<year>1998</year>
<volume>21</volume>
<numero>1</numero>
<issue>1</issue>
<page-range>39-50</page-range></nlm-citation>
</ref>
<ref id="B54">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Smithies]]></surname>
<given-names><![CDATA[A.]]></given-names>
</name>
<name>
<surname><![CDATA[Butters]]></surname>
<given-names><![CDATA[J. K.]]></given-names>
</name>
</person-group>
<source><![CDATA[Readings in Fiscal Policy]]></source>
<year>1955</year>
<publisher-loc><![CDATA[Homewood ]]></publisher-loc>
<publisher-name><![CDATA[Richard, D. Irwin, Inc]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B55">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Spiegel]]></surname>
<given-names><![CDATA[H. W.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Viner, Jacob (1892-1970)]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Eatwell]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
</person-group>
<source><![CDATA[The New Palgrave: A Dictionary of Economics]]></source>
<year>1987</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Macmillan]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B56">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Smithin]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The Composition of Government Expenditures and the Effectiveness of Fiscal Policy]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Pheby]]></surname>
<given-names><![CDATA[John]]></given-names>
</name>
</person-group>
<source><![CDATA[New Directions in Post-Keynesian Economics]]></source>
<year></year>
<publisher-loc><![CDATA[Northampton ]]></publisher-loc>
<publisher-name><![CDATA[Edward Elgar]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B57">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Tavlas]]></surname>
<given-names><![CDATA[G. S.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Chicago, Harvard, and the Doctrinal Foundations of Monetary Economics]]></article-title>
<source><![CDATA[Journal of Political Economy]]></source>
<year>1997</year>
<volume>105</volume>
<numero>1</numero>
<issue>1</issue>
<page-range>153-77</page-range></nlm-citation>
</ref>
<ref id="B58">
<nlm-citation citation-type="book">
<collab>The American Economic Association</collab>
<source><![CDATA[Readings in Business Cycle Theory]]></source>
<year>1951</year>
<publisher-loc><![CDATA[Homewood ]]></publisher-loc>
<publisher-name><![CDATA[Richard D. Irwin, Inc]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B59">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Warburton]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The Monetary Theory of Deficit Spending]]></article-title>
<source><![CDATA[The Review of Economic Statistics]]></source>
<year>1946</year>
<volume>XXVII</volume>
<numero>2</numero>
<issue>2</issue>
<page-range>92-4</page-range></nlm-citation>
</ref>
<ref id="B60">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Warbuton]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
</person-group>
<source><![CDATA[Depression, Inflation, And Monetary Policy. Selected Papers, 1945-1953]]></source>
<year>1966</year>
<publisher-loc><![CDATA[Baltimore ]]></publisher-loc>
<publisher-name><![CDATA[The Johns Hopkins Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B61">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Williamson]]></surname>
<given-names><![CDATA[J. H.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Deficit Spending]]></article-title>
<source><![CDATA[The American Economic Review]]></source>
<year>1941</year>
<numero>^sSupplement</numero>
<issue>^sSupplement</issue>
<supplement>Supplement</supplement>
</nlm-citation>
</ref>
<ref id="B62">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Winch]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The Keynesian Revolution in Sweden]]></article-title>
<source><![CDATA[Journal of Political Economy]]></source>
<year>1996</year>
<volume>LXXIV</volume>
<numero>2</numero>
<issue>2</issue>
<page-range>168-76</page-range></nlm-citation>
</ref>
<ref id="B63">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Young]]></surname>
<given-names><![CDATA[W.]]></given-names>
</name>
</person-group>
<source><![CDATA[Harrod and his Trade Cycle Group]]></source>
<year>1989</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[New York University Press]]></publisher-name>
</nlm-citation>
</ref>
</ref-list>
</back>
</article>
