"This revolutionary theory – his Liquidity Preference Theory – is still considered too radical to be acceptable today." What? Liquidity preference was taught i

"This revolutionary theory – his Liquidity Preference Theory – is still considered too radical to be acceptable today." What? Liquidity preference was taught in my undergrad macro class using the textbook by Greg Mankiw. It's the basis of the IS/LM model. And central banks are constantly worrying about interest rates and liquidity. To whom is it too radical? Probably some people disagree with it, but I wouldn't call it very "radical" today. The author is fighting straw men.