ABSTRACT
This chapter focuses on Klein’s interpretation of Keynes. His views are broadly in line with those of other major architects of the American tradition of ‘pragmatic’ macroeconomics, like Modigliani and Samuelson. Klein’s original contribution is to emphasize, in contrast with Samuelson, that there is no gap between the Classical and the Keynesian models. In particular, by developing his aggregation theory he tries to show that Keynes’s aggregates can be derived from standard microeconomic functions.
