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indeed represent a faithful rendition of the analytical core of Keynes's General Theory and does belong more to the Marshall-Pigou-Keynes …-LL) approach. Hicks's treatment of the supply side Keynes's reaction to the different SI-LL models later developments of SI-LL by …
Persistent link: https://www.econbiz.de/10009221587
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 Keynestheory of consumer behavior. Chapter 8 is entitled The Propensity to Consume: I … Propensity to Consume and the Multiplier. Contrary to the widely held belief, Keynes saw the consumer as an intertemporally …
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 … were debating issues very similar to the ones with which Keynes was wrestling. …
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 … key part in the way Keynes’ theoretical model is developed here. This chapter introduces Keynes’ concept of involuntary …
Persistent link: https://www.econbiz.de/10010721589
Chapter Six and its Appendix deal in some detail with the way Keynes is defining income, savings and investment in the … General Theory while the appendix to Chapter 6 goes into detail on user cost. His concept of user cost at one point sparked a … cost is the place where Keynes sees firms taking account of the future consequences of their current production decisions …
Persistent link: https://www.econbiz.de/10010721590
In this paper, we address several aspects of the present economic and social crisis from an interdisciplinary perspective. We focus attention on Institutional and Keynesian economics and on the role of public spending and credit creation in the formation of private sector aggregate profit....
Persistent link: https://www.econbiz.de/10010669838
This is a review article of A 'Second Edition' of the General Theory Vols 1 and 2 edited by G.C. Harcourt and P …
Persistent link: https://www.econbiz.de/10005170040
The Great Recession seems to be creating a change in the trend of macroeconomic thinking. Prior to the financial crisis of 2008, dynamic stochastic general equilibrium (DSGE) models dominated the macroeconomics literature without any apparent challengers on the horizon. Since then, however, we...
Persistent link: https://www.econbiz.de/10010987903