Christian Dissent from the New Classical Economics

Abstract

Argues that the new classical economics cannot be reconciled with Christian economic principles, which in fact fit Keynesian analysis better. General dissent turns on positive versus normative thought, the holistic approach of Christian thought, and suppression of attention to proper human participation in economic institutions and decisions. Specific disagreements concern well‐known policy applications of the new classical economics, notably inflation and money supply rules, and presumptions of clearing markets, especially that for labour. The Keynesian tradition does have room for normative values and supposes imperfect product and labour markets.

Citation

McKee, A. (1993), "Christian Dissent from the New Classical Economics", International Journal of Social Economics, Vol. 20 No. 1, pp. 4-15. https://doi.org/10.1108/03068299310023914