This paper is a critical examination of the notion of equilibrium in the classical theory of value. It highlights the … theoretical importance as well as the problems associated with the notion of equilibrium in the classical theory and goes on to … argue that Sraffa presents a theory of value within the classical tradition that does not require a notion of equilibrium of …

This paper is a critical examination of the notion of equilibrium in the classical theory of value. It highlights the … theoretical importance as well as the problems associated with the notion of equilibrium in the classical theory and goes on to … argue that Sraffa presents a theory of value within the classical tradition that does not require a notion of equilibrium of …

threefold relationship between 'economic reality', 'the economist/observer' and 'economic theory'. We elucidate the constraints …

In Chapter 3 of the General Theory, Keynes sketches out what he calls the essence of the General Theory of Employment …

In Chapter 4 of the General Theory, Keynes discusses the units of measurement he will be using in the remainder of the …

Chapters 8, 9 and 10 set out Keynes’ theory of consumer behavior. Chapter 8 is entitled The Propensity to Consume: I …

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 …

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 …