Keynes's Principle of Effective Demand
Without doubt, Keynes was a complex, many-sided genius whose analyses were constantly playing catch-up with his intuition. Amadeo s book is indeed a very important contribution to an enhanced understanding of this process as it pertains to Keynes s two premier contributions to economic theory the TM [Treatise on Money] and the GT [General Theory]. Richard X. Chase, Journal of Economic Issues I think that this is an outstanding piece of work, doing an excellent job of tracing the evolution of Keynes s own thought and questioning the conventional interpretation of the transition from the Treatise on Money to the General Theory. Lance Taylor, Massachusetts Institute of Technology, US Edward Amadeo has written a clear, concise, scholarly and persuasive account of the crucial characteristics of the development of Keynes s thought between the Treatise and The General Theory. Amadeo is so balanced, fair and has such good insights that his book is likely to become the definitive account of the transition between Keynes s two books. G.C. Harcourt, The Economic Journal Amadeo portrays the emergence of The General Theory as a systematic progression from the methodological stance and argument of A Treatise, a self-conscious shedding of skins rather than a haphazard muddling through to a new volume that miraculously caught the attention of the economics profession. This is a compelling exploration of the analytic connections and ruptures between A Treatise and The General Theory; it merits reading by putative Keynesians and anti-Keynesians alike. William Darity Jr., Journal of Economic History
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Preliminary concepts and definitions
the supply and expenditure
18 other sections not shown
adjustment process adjustment variable aggregate demand aggregate supply argues associated assumed assumption changes in demand changes in output Chapter consumption corresponds cost of production decision to produce determined difference discrepancies discussion disequilibrium Eatwell economic effective demand employment and output entrepreneurs equal equilibrium position equilibrium theory expected price expenditure dimension factors of production forced saving full employment fundamental equations given Hicks increase Joan Robinson Keynes Keynes's analysis Keynesian economics labour level of employment level of income level of output Lindahl marginal marginal cost ment method of analysis microeconomic Milgate monetary money wages natural rate notion of equilibrium output and employment output and price Patinkin price level principle of effective profits or losses propensity to consume quantity of money quasi-rents rate of interest real wages reduction relevant Robertson role saving and investment Say's Law short-period supply dimension theory of employment theory of output tion Treatise Wicksellian windfall profits
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Income Distribution, Inflation, and Growth: Lectures on Structuralist ...
Limited preview - 1991