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his close affiliation with anarchism. The article then gives a concise summary of Gesell's theory of effective demand and … evidence for rejecting Hick's classic interpretation of the General Theory. If one takes Keynes extensive discussion of Gesell …'s theory of interest as a key for understanding the General Theory, Keynes main innovation of General Theory becomes a monetary …
Persistent link: https://www.econbiz.de/10009371801
Given the renewed interest in negative interest rates, this article analyses Gesell’s theory of interest and its … connection to J. M. Keynes’ General Theory. Gesell recognised that money has little or no carrying costs in comparison to goods …, Keynes himself expressively acknowledged Gesell’s ‘flashes of deep insight’ in the General Theory. In fact, the theoretical …
Persistent link: https://www.econbiz.de/10010760462
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
This paper compares and contrasts the thinking of Keynes and Geoffrey Ingham, focussing mainly on The General Theory … underpins the crucial distinction between money and ‘real’ wages for the theory of employment but also develops Keynes …
Persistent link: https://www.econbiz.de/10010851101
ideal commodity bundle. Irving Fisher also developed and advocated the impatience theory of interest. But in OLG economies …
Persistent link: https://www.econbiz.de/10005761445
ideal commodity bundle. Irving Fisher also developed and advocated the impatience theory of interest. But in OLG economies …
Persistent link: https://www.econbiz.de/10005587097
the intention of providing a thorough interpretation of this rather obscure work. We explore in depth Lange’s theory of … interest and its relationship with both Keynes’ General Theory (1936) and Hicks’ synthesis (1937), developing two graphical … independent of the General Theory. They consisted of a theoretical generalization and analysis of institutional data, intended to …
Persistent link: https://www.econbiz.de/10011196549
-1936 from when he worked on A Treatise on Money to the completion of his General Theory. The forced saving notion has been … demand in the General Theory and its process. I provide evidence suggesting that the development of the General Theory is … Fundamental Equations and subsequent theory of effective demand in the explanation of the problem of unemployment. …
Persistent link: https://www.econbiz.de/10010878270
Frank P. Ramsey (b. 1903 – d. 1930) was a Cambridge mathematician who interacted closely to leading economists of his time such as Arthur Cecil Pigou, John Maynard Keynes and Roy Harrod. In the 1920s he was considered by many as a brilliant student who was clearly integrated to the elite group...
Persistent link: https://www.econbiz.de/10010934863
En este trabajo el autor se lamenta de la importancia cada vez menor que se otorga a la historia del pensamiento económico en la comunidad académica mundial, defiende que esta recesión está dando lugar a visiones unidimensionales de la obra de los principales autores en economía y afirma...
Persistent link: https://www.econbiz.de/10010929558