ABSTRACT
A very influential body of thinking, known as the New Classical school, has attempted to revive old classical ideas. Its leading exponents are, in the USA, T. Sargent, N. Wallace, R. Barro, R. Lucas, and in the UK, P. Minford. (See on all this Sargent and Wallace (1976), Begg (1982), Minford and Peel (1983), Attfield et al. (1985), Journal of Money, Credit and Banking (1980).)
