“Very Deep is the Well of the Past”

A review on

De Vroey, Michel (2016): A History of Macroeconomics from Keynes to Lucas and beyond. Cambridge: Cambridge University Press.

Michel De Vroey, professor emeritus of Université Catholique de Louvain, has hardly to be presented to the readers interested in the history of modern macroeconomics. The researcher, who rose to fame as the visiting professor of some high-flying universities, including Sorbonne of Paris or Duke University of North Carolina, will deservedly crown his professional career with this new work of his. His previous papers and books (among which there are pieces written in English and French as well) demonstrate his particular interest in the evolution of high theory between Keynes and Lucas, especially in the deep analysis of Keynesian economics, neoclassical synthesis, and new classical macroeconomics led by Robert E. Lucas. Of course, these labels cannot comprehend the realm covered by Prof. De Vroey’s interest and his unsurpassable knowledge. One could hardly find an area within modern macroeconomics on which he did not already exert his detailed and grounded views. His latest book is quite fresh from the press, after a prolonged waiting it was released on the 7th January, 2016. The warm reception and the keen interest excited by this work are clearly described by the simple fact that the publishing house ran out of its printed copies after one month and a half of distribution, so, when writing these rows, the readers have to wait for a reprint. The volume endows its author with authority even for the first sight: on the basis of the short recommendations on the back cover from Olivier J. Blanchard or even Lucas himself it is evident whom we will face. We can read the commentaries of a historian of the economic thought who was privileged to directly observe the most exciting decades of the evolution of modern macroeconomics. He is a witness and an insider.

The full body of the text is available here.


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