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Chapter 2 is one of the most important chapters in the General Theory. Not only does it set out Keynes’ disagreements … key part in the way Keynes’ theoretical model is developed here. This chapter introduces Keynes’ concept of involuntary … consequent cyclicality of the real wage. Chapter 2 also includes Keynes’ discussion of Say’s Law. …
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 … cost is the place where Keynes sees firms taking account of the future consequences of their current production decisions …, contain a forward looking element. Chapter 7 returns to the concepts of saving and investment, relates Keynes’ definitions to …
Persistent link: https://www.econbiz.de/10010721590
While Keynes can be considered the true father of the “unorthodox” monetary policies introduced by the Bank of Japan … and the Federal Reserve, these policies also provide the test of their efficacy that Keynes called for. They suggest that … Keynes’s Treatise optimism was misplaced, and that his more nuanced, skeptical, position in the General Theory was more …
Persistent link: https://www.econbiz.de/10010603896
-il, des contributions de Keynes, dans le Traité de la Monnaie, et de Kalecki. Cependant, alors que Keynes et Kalecki …
Persistent link: https://www.econbiz.de/10005328267
(Georg Friedrich Knapp and A. Mitchell Innes) through Joseph Schumpeter, John Maynard Keynes, and Abba Lerner, and on to …
Persistent link: https://www.econbiz.de/10010754647
Marshall's notion of the representative firm can be read as a macro notion with some resemblance to Keynes' aggregative … concepts. Keynes' notions of aggregate demand and aggregate supply are fashioned after Marshall's definitions of demand and … supply. Keynes starts with the Marshallian equilibrium notion. The main innovation of Keynes--a conception of macroeconomic …
Persistent link: https://www.econbiz.de/10008515855
capitalistic economy. Keynes challenged the presumption that flexibility of all prices guaranteed the stability of general …
Persistent link: https://www.econbiz.de/10014024369
(Georg Friedrich Knapp and A. Mitchell Innes) through Joseph Schumpeter, John Maynard Keynes, and Abba Lerner, and on to …
Persistent link: https://www.econbiz.de/10010252186
Persistent link: https://www.econbiz.de/10003963134
Keynes-Tinbergen controversy, it is argued that Keynes' criticism comprises the "Lucas critique", and that it is misleading …
Persistent link: https://www.econbiz.de/10010439367