A Brief Chronology
1883 - J. M. Keynes born.
1936 - "General Theory of Employment, Interest, and Money.," J. M. Keynes.
1946 - "Measuring Business Cycles," Arthur Burns and Wesley Mitchell. The first modern treatment of the subject.
1958 - The Phillips Curve.
1961 - rational expectations.
1963 A Monetary History of the United States, 1867-1960, Milton Friedman with Anna J. Schwartz.
1964 - Kennedy-Johnson tax cut. The heyday of Keynesian economic policy.
1973, 1979 oil shocks. The empirical evidence for real business cycles and the downfall of the Phillips curve.
1982 - recession. Anticipated changes in monetary policy just might have real effects.