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This paper explores themes suggested by Paul Davidson's 2007 book >i>John Maynard Keynes.>/i> I argue, first, that …
Persistent link: https://www.econbiz.de/10008592549
This paper reviews the treatment of open economy issues in Paul Davidson's book, >i>John Maynard Keynes>/i>. Davidson … aptly summarizes Keynes's criticism of the international monetary system for the asymmetric "burden of adjustment" it places … also updates Keynes's proposals for global monetary reform and extends his analysis of international trade. However …
Persistent link: https://www.econbiz.de/10008592552
Contemporary "new classical" endogenous growth models make imaginative use of the Smith-Marshall-Young-Kaldor division of labor-increasing returns principle. Yet new growth theorists seem to have forgotten (or misunderstood) the essential role of an expanding market as a companion to division of...
Persistent link: https://www.econbiz.de/10005225567
institutions assumed by Keynes. Although acknowledging some evidence in support of these interpretations, the paper argues that … Keynes also developed the fundamental elements of a general theory of unemployment and potential instability under capitalism … more general message, which was partly obscured by Keynes's emphasis on modern financial institutions. …
Persistent link: https://www.econbiz.de/10005233036
Keynesian practical arguments concerning the beginning of recessions are applied. Moreover, Keynes's theory of liquidity …
Persistent link: https://www.econbiz.de/10005233044
Keynes's notion of profit expectations and "weight" is developed in order to gain some insight into agroforestry adoption …
Persistent link: https://www.econbiz.de/10005233047
rooted in the analyses of John Maynard Keynes, Paul Davidson, and John Kenneth Galbraith, we explain why developments in …
Persistent link: https://www.econbiz.de/10009353092
This paper examines Keynes's treatment of financial conventions, focusing on the stock exchange. It shows that Keynes … the potentially short duration of Keynes's financial convention with the widespread idea that informal institutions change …
Persistent link: https://www.econbiz.de/10009353097
The undertaken study purports to assess the empirical merits of the Post Keynesian doctrine as this is reflected by both the Keynesian as well as the Kaleckian theoretical approaches to investment determination. In doing so, a generalized method of moments panel data methodology provides the...
Persistent link: https://www.econbiz.de/10008741336
How does Nassim Taleb's notion of uncertainty compare with Keynes's? In describing "black swan events" as rare … had been similarly underscored by Keynes in his theory of behavior in a monetary economy. Yet beyond this apparent … similarity, Taleb's and Keynes's views of uncertainty are opposite with respect to both method and consequences. This paper …
Persistent link: https://www.econbiz.de/10008741347