This paper has suggested a number of reasons why Keynes would have been critical of the way ISLM developed in the hlaf century after his death.

The paper reconstructs the simple Keynesian IS-LM model form Keyne's (1930) theory of the aggregate price. It does by constructing the total cost and revenue functions that are implied by Keyne's theory of price. The paper points out how the price theory contains an incorrect definition of...

A model of growth in a developing economy is presented, extending previous work by Lucas (1988) and Dexit (1968). The model distinguishes betwwen unskilled labour and Human capital inputs and incorporates and elastic supply curve for unskilled labour.