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Marshall's notion of the representative firm can be read as a macro notion with some resemblance to Keynes' aggregative … concepts. Keynes' notions of aggregate demand and aggregate supply are fashioned after Marshall's definitions of demand and … supply. Keynes starts with the Marshallian equilibrium notion. The main innovation of Keynes--a conception of macroeconomic …
Persistent link: https://www.econbiz.de/10008515855
Keynes-Tinbergen controversy, it is argued that Keynes' criticism comprises the "Lucas critique," and that it is misleading …
Persistent link: https://www.econbiz.de/10005649780
they may not last for centuries. Among these, doubtless to say, John Maynard Keynes was one of the most influenced social … study shows that John Maynard Keynes life carries so many distinguished features that are to be invaluable examples for …
Persistent link: https://www.econbiz.de/10011111470
We describe Hayek's position on taxation and its subsequent developments. Hayek defends the proportional tax system. If a majority rule corrects deviations from political power must also restrict the conditions of progressive taxation. According to Hayek the progressive tax system (SFP) violates...
Persistent link: https://www.econbiz.de/10011111573
This is an unpublished document on the history of Italian economic planning in the 1970s: a letter of the Italian minister Ugo La Malfa to Claudio Napoleoni
Persistent link: https://www.econbiz.de/10011112532
Keynes’s theory of a monetary economy and his liquidity preference theory of investment will be examined in order to …
Persistent link: https://www.econbiz.de/10008839509
This paper focuses on Keynes’s exposition of the Principle of Effective Demand and its generalised mathematical … representation – the basis of a Z-D type model. It elaborates on Keynes’s algebraic formulation in the General Theory, relying on … as on those who developed the algebraic argumentation that Keynes left only indicated. Instead of correcting Keynes …
Persistent link: https://www.econbiz.de/10005616815
Симеон Сергеевич Демостенов е дългогодишен професор по политическа икономия в Софийския университет в периода между двете световни войни и може би най–...
Persistent link: https://www.econbiz.de/10011108963
This paper explains the early U.S. Department of Commerce estimates of national income and product during the 1930s and 1940s, focusing on how both economic theory and the needs of policymakers influenced the methods and concepts used. The paper explores the debate between Simon Kuznets, author...
Persistent link: https://www.econbiz.de/10011257743
In this article the debate between Prof. Augusto Graziani and the author on the monetary theory of production is carried further on. The main purpose of the paper is to delineate - along Keynesian lines and in opposition to the theory of the credit money circuit - a consistent and realistic view...
Persistent link: https://www.econbiz.de/10011109819