A famous critique of neglecting short-run analysis was by John Maynard Keynes, who wrote that "In the long run, we are all dead," referring to the long-run proposition of the quantity theory of, for example, a doubling of the money supply doubling the price level.
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J.M. Keynes (1936) emphasized fundamental factors of a market economy that might result in prolonged periods away from full-employment.
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