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This paper by Leland Yeager is a fascinating read (including the comments, especially that of Leijhonhufvud): even though there have been some developments since then, much of the discussion reminds me of current debates on how to interpret different theories 1/2
19.7.2025
For an antidote to that dismissal (and its close New Classical economics counterpart), I highly recommend Leland Yeager’s essay, “The Significance of Monetary Disequilibrium.” (Yeager was, among other things, a longtime associate of the Mises Institute.)
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