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In Chapter 3 of the General Theory, Keynes sketches out what he calls the essence of the General Theory of Employment …
Persistent link: https://www.econbiz.de/10010721583
In Chapter 4 of the General Theory, Keynes discusses the units of measurement he will be using in the remainder of the …
Persistent link: https://www.econbiz.de/10010721584
Chapters 8, 9 and 10 set out Keynes’ theory of consumer behavior. Chapter 8 is entitled The Propensity to Consume: I …
Persistent link: https://www.econbiz.de/10010721585
This paper puts John Maynard Keynes’ "The General Theory of Employment, Interest and Money" into its historical context … background to the General Theory, looks at the influence of other economists of the period on the evolution of Keynes’ thought …
Persistent link: https://www.econbiz.de/10010721586
Chapter 2 is one of the most important chapters in the General Theory. Not only does it set out Keynes’ disagreements … the analysis in the remainder of the General Theory. The issue of how labour’s response to a change in its real wage …
Persistent link: https://www.econbiz.de/10010721589
General Theory while the appendix to Chapter 6 goes into detail on user cost. His concept of user cost at one point sparked a …. The General Theory is a theory of the short run, but firms’ cost curves, which are key to many short run decisions …
Persistent link: https://www.econbiz.de/10010721590
Smith’s theory of the falling rate of profit has been usually interpreted as a result of the intensification of …
Persistent link: https://www.econbiz.de/10009370947
Blending past and present, this brief history of economics is the perfect book for introducing students to the field. A Brief History of Economics illustrates how the ideas of the great economists not only influenced societies but were themselves shaped by their cultural milieu. Understanding...
Persistent link: https://www.econbiz.de/10011183881
Classical economists - mainly Smith, Ricardo and J.S. Mill - abhorred public debts because of their interference with capital accumulation. J.S. Mill in particular envisaged that a rising public debt leads to higher interest rates and falling real wages, a combination which may be consistent...
Persistent link: https://www.econbiz.de/10010876311
The purpose of this paper is twofold: on the one hand is to discuss Ricardo’s version of the labour theory of value …; and on the other hand, is to analyse some crucial aspects of Ricardo’s theory of taxation as an extension and further … elaboration of his theory of value. This discussion is illustrated with the use of a formal model based on a generalisation of …
Persistent link: https://www.econbiz.de/10009404625