Alone again or, just me and the money multiplier, against the world of trendy sophisticates who have put aside such childish things. It brings out the reactionary contrarian in me. And the world needs more reactionary contrarians, to help provide negative feedback against the faddish bubble multiplier of popular theory.
There are two multipliers we teach in first year: the money multiplier; and the "keynesian" (Hawtreyan?) multiplier. Both are set aside as embarrassing reminders of childhood. Let me defend them both. They have a lot in common.