Viggo Kampmann is a rare example of a person who at the same time is close to academic economics, does have great political influence, and serves as top minister for a long period. He has influence on Social Democratic politics from the late years of the war and until 1962. We find the revealed economic theory framework for two articles of Kampmann as serving minister of finance in Nationaløkonomisk Tidsskrift in the 1950ies to be the IS-LM model. The mix of monetary and fiscal policy is a central theme; always having the distribution and social justice in mind. After a review of the articles follow historical and theoretical commentaries. Kampmann does not explicitly present his model, but the article suggests the main structure of such a model. The article problematizes the LM-curve and the consumption function, and it comments on the link between investment, growth and future welfare.
|Number of pages||24|
|Publication status||Published - 2021|
- Fiscal and monetary policies