Editing Economics (section)

==== New classical economics ====
{{Main|New classical macroeconomics}}

A more fundamental challenge to the prevailing Keynesian paradigm came in the 1970s from [[new classical macroeconomics|new classical economists]] like [[Robert Lucas Jr.|Robert Lucas]], [[Thomas Sargent]] and [[Edward Prescott]]. They introduced the notion of [[rational expectations]] in economics, which had profound implications for many economic discussions, among which were the so-called [[Lucas critique]] and the presentation of [[Real business-cycle theory|real business cycle models]].<ref>Blanchard et al. (2017), pp. 512–516.</ref>