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  • This paper discusses the similarities and dissimilarities in the old and the new Keynesian theories thereby concluding that Keynes was a true Keynesian.

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    Mankiw, the leader of the new Keynesians, explains and makes use of the fundamental tools involved in the Keynes general theory including IS and LM curves, aggregate supply and aggregate demand, and the multiplier and accelerator. However, unlike the old Keynesians, Mankiw, his subordinates and colleagues sought benefit of the economy in the saving approach. Where old Keynesians saw a marked decrease in the output levels due to savings, Mankiw claimed and showed how saving at a high rate can cause the output levels to soar. Making use of the write an essay reddit Solow growth model", Mankiw explained and established a clear link between saving phenomenon and higher levels of output as well as the resultant "steady-state capital stock" in the following words: "the saving rate is a key determinant of the steady-state capital stock."

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  • A review of "The Ballad of the Sad Cafe" by Carson McCullers.

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