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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
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
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This is an unpublished document on the history of Italian economic planning in the 1970s: a letter of the Italian minister Ugo La Malfa to Claudio Napoleoni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
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
Without national accounts statistics, citizens, politicians, entrepreneurs and economists would be blind for the size, composition and development of national economies. This book provides a unique overview of the merits and limitations of the national accounts. Attention is paid to the three...
Persistent link: https://www.econbiz.de/10008543032
In 1936, Keynes published The General Theory of Employment, Interest and Money, one of the most influential books in … economics of the twentieth century. With this publication, Keynes has confused and will continue to confuse generations of … economists as to what classical economics means. This short essay argues that the 'classical economists' whom Keynes referred to …
Persistent link: https://www.econbiz.de/10008839469
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
Evidence from a half century of experience by states identifies nonlinearities in the effects of debt and fiscal policy on growth. Effects are Keynesian for low to moderate levels of debt and stimulus but anti Keynesian for sufficiently high levels of debt or stimulus. Results are broadly...
Persistent link: https://www.econbiz.de/10011110985