market regularities and (ii) macroeconomic dynamics (long-term rates of growth, GDP uctuations, unemployment rates …

unemployment based on the skepticism toward existing theories based on the observations of a real economy.The study reveals two … and unfeasible.Second, Keynes's unemployment equilibrium is realized owing to market failure in a macro economy. Market … failure in a macro economy shows that involuntary unemployment results from quantitative and not price aspects. In other words …

folgende Thesen: (a) Keynes sah sich selbst nicht primär als Wissenschaftler, sondern als Publizist. (b) Seine "General Theory …) Keynes saw himself primarily not as a scientist but as a writer. (b) His "General Theory" is best understood not as a …

stochastic general equilibrium models are unnecessary and impossible. Second, Keynes’ unemployment equilibrium is realized due to … market failure in the Walrasian economy. Therefore, involuntary unemployment is caused not by the price aspect but by …