Download or read book Keynes s Principle of Effective Demand written by Edward J. Amadeo and published by . This book was released on 1989 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: '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
Download or read book The General Theory of Employment Interest and Money written by John Maynard Keynes and published by Springer. This book was released on 2018-07-20 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
Download or read book The General Theory of Employment Interest and Money written by John Maynard Keynes and published by . This book was released on 1989 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Lectures on John Maynard Keynes General Theory of Employment Interest and Money 3 written by Brian S. Ferguson and published by . This book was released on 2013 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Chapter 3 of the General Theory, Keynes sketches out what he calls the essence of the General Theory of Employment. He introduces the Keynesian expenditure-based model, the aggregate demand curve and also his aggregate supply function, a concept which spawned much debate among Post-Keynesian economists but which was, for a long time, virtually ignored in mainstream macroeconomics. He sets out the Savings=Investment version of Say's Law and outlines how an economy can settle into an equilibrium at less than full employment.
Download or read book Keynes s General Theory and Accumulation written by Athanasios Asimakopulos and published by Cambridge University Press. This book was released on 1991-06-28 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book makes Keynes's writing on his General Theory accessible to students by presenting this theory in a careful, consistent manner that is faithful to the original. Keynes's theory continues to be important, because the issues it raised, such as the problems of involuntary unemployment, the volatility of investment, and the complexity of monetary arrangements in modern capitalist economies, are still with us. Keynes's method of analysis, which tries to allow for the complications of dealing with historical time, deserves the careful attention given in this book. Keynes's formal analysis dealt only with a short period of time during which changes in productive capacity as a result of net investment were small relative to initial productive capacity. Roy Harrod and Joan Robinson were the two most prominent followers of Keynes who attempted to extend his analysis to the long period by allowing for the effects of investment on productive capacity as well as on effective demand. The careful examination of their writings on this topic is a natural complement to the presentation of Keynes's General Theory and makes clear the severe limitations on any use of equilibrium concepts in dealing with accumulation in models that try to observe Keynes's warnings about an unknowable future in the type of world we inhabit.
Download or read book Pasinetti Keynes and the Principle of Effective Demand written by Andrew B. Trigg and published by . This book was released on 2003 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Understanding Keynes General Theory written by B. Sheehan and published by Springer. This book was released on 2009-01-15 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a comprehensive guide for those seeking to fully understand Keynes' General Theory of Employment, Interest and Money , and especially those approaching the work for the first time. It also highlights Keynes' important policy insights. This book is an essential introduction to Keynes' most influential text.
Download or read book Keynes s Economics and the Theory of Value and Distribution written by John Eatwell and published by Bloomsbury Academic. This book was released on 1983 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Capital and Employment written by Murray Milgate and published by Academic Press. This book was released on 2014-05-10 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studies in Political Economy: Capital and Employment: A Study of Keynes's Economics focuses on the inquiry into Keynesian economics, particularly the relationship of capital and employment. The publication first underscores the contemporary position of 'Keynesian' economics, traditional long-period method of economic analysis, and theoretical systems and the long-period method. Discussions focus on the structure of classical economic theory, structure of marginalist economic theory, and the traditional long-period method of economic analysis. The text then ponders on the analysis of deviations from long-period positions, principle of effective demand, and the theory of capital and theory of employment. Topics include Keynes on the 'classical' theory of interest, capital and employment, inflexibility of money-wages, long-period theory of output and employment, and principle of effective demand. The book takes a look at the theoretical system of the treatise versus the general theory and the method of analysis in the treatise and the general theory, including the conceptual framework of the treatise on money and general theory and the natural rate of interest and level of employment. The publication is a valuable reference for economists and researchers interested in the relationship of capital and employment.
Download or read book Keynes and Marx written by Bill Dunn and published by Manchester University Press. This book was released on 2021-07-06 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: Keynes was an elitist and pro-capitalist economist, whom the left should embrace with caution. But his analysis provides a concreteness missing from Marx and engages with critical issues of the modern world that Marx could not have foreseen. This book argues that a critical Marxist engagement can simultaneously increase the power of Keynes’s insight and enrich Marxism. To understand Keynes, whose work is liberally invoked but seldom read, Dunn explores him in the context of the extraordinary times in which he lived, his philosophy, and his politics. By offering a detailed overview of Keynes’s critique of mainstream economics and General Theory, Dunn argues that Keynes provides an enduringly valuable critique of orthodoxy. The book develops a Marxist appropriation of Keynes’s insights, arguing that a Marxist analysis of unemployment, capital and the role of the state can be enriched through such a critical engagement. The point is to change the world, not just to understand it. Thus the book considers the prospects of returning to Keynes, critically reviewing the practices that have come to be known as ‘Keynesianism’ and the limits of the theoretical traditions that have made claim to his legacy.
Download or read book The Applied Mathematics of J m Keynes Theory of Effective Demand in the General Theory written by Michael Emmett Brady and published by Xlibris Corporation. This book was released on 2006-03-30 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: The standard view of the economics profession is that Keynes was a brilliant, intuitive, non-rigorous innovator who was unable to apply formal mathematical analysis in his work. These essays show that Keynes backed up his "intuitions" with a rigorous mathematical and logical supporting analysis which has been overlooked by the economics profession for 70 years.The most likely reason that this occurred is that the ECONOMICS PROFESSION HAS ACCEPTED AS TRUE A NUMBER OF CANARDS CONCOCTED BY RICHARD KAHN, JOAN ROBINSON, AND AUSTIN ROBINSON that claimed that Keynes was a poor mathematician by 1927, who had never taken the 20 minutes that were necessary to master the theory of value(microeconomics).The result was that Keynes made all kinds of mathematical errors in his analysis of the aggregate supply function, Z, that his mentor, Richard Kahn, was not able to catch because Keynes had published the book prematurely. This is an abridged edition of my 2004 book, " Essays on J M Keynes and..." that concentrates on Keynes& acute; s mathematical modeling of his theory of effective demand in chapters 20 and 21 of his General Theory(1936).I have added three new essays.The fundamental result of the book is to demonstrate mathematically that Keynes had a complete microeconomic foundation for his macroeconomic theory built on the theory of purely competitive firms.There are two different but complementary models in the GT.They are the Y-Multiplier model of chapter 10[Y=PO; Y=C+I=bY(or C=a+bY)+(1-b)Y], where Y is actual or realized nominal aggregate demand and P is the actual price level, and the expected D-Z model of chapters 3,20, and 21[D=pO and Z=wN+P], where p is the expected price, D is the expected, nominal aggregate demand, and P is the expected economic profit.This model is explicitly discussed by Keynes in straightforward English in chapter 3 and mathematically analyzed in chapters 20 and 21.Any reader who can integrate the derivatives presented by Keynes in ft.2, pp.55-56 or fts.1 and 2 on p.283 of the GT, can obtain this model.Keynes puts both of his models together to obtain his generalized version of classical and neoclassical theory, w/p=mpl/(mpc+mpi), where mpl is the marginal product of labor in the aggregate derived from an aggregated neoclassical production function(pp.283,285 of the GT), w/p is the expected real wage, mpc is the marginal propensity to spend on consumption goods, and mpi is the marginal propensity to spend on investment goods.If mpc+mpi=mpc+mps=1, where mps is the marginal propensity to save, Keynes& acute; s general result simplifies to the standard neoclassical result that w/p=mpl defines a full employment equilibrium with only frictional and voluntary unemployment.On the other hand, if mpc+mpi< 1, one of a number of possible unemployment equilibriums occurs which labor, in the aggregate, will be unable to eliminate because, in this case, the money wage must be increased, not decreased.Keynes is the first economist in history to analyze a set of stable, macroscopic, multiple equilibria.The technical result is discussed in literary fashion on pp.261-262 of the GT in chapter 19 for those 1930& acute; s economists who lacked mathematical training in the differential and integral calculus.Keynes would be shocked to discover that the economics profession has, for the last 70 years contended either that (a)there is no mathematical model of Keynes& acute; s theory in the GT that incorporates microeconomic foundations or(b)there is a model in the GT, but it is filled with all types of mathematical errors.Anyone trained in calculus at the lower division, undergraduate level can discover for himself that both (a) and (b) are false.
Download or read book Marx and Keynes on Economic Recession written by Claudio Sardoni and published by . This book was released on 1987 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Keynes and the Modern World written by George David Norman Worswick and published by CUP Archive. This book was released on 1983-12-22 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents the proceedings of the major conference held to celebrate the centenary of the birth of John Maynard Keynes at King's College, Cambridge. It brings together major international figures in economics and looks at Keynesian economics and the relevance of Keyne's ideas today. In addition to the main speakers and discussants, summaries of the discussions on each paper and memoirs of Maynard Keynes from Sir Austin Robinson, Richard Braithwaite and James Meade are also included.
Download or read book The Economics of Keynes written by Mark Hayes and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this guide to general theory, Mark Hayes presents Keynes's illustrious work as a sophisticated Marshallian theory fo the competitive equillibrium of the economy as a whole.
Download or read book Keynes s Principle of Effective Demand and Its Relationship to Alternative Theories of Distribution and Accumulation written by Edward Joaquim Amadeo Swaelen and published by . This book was released on 1985 with total page 654 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Keynes s General Theory After Seventy Years written by R. Dimand and published by Springer. This book was released on 2010-02-03 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview of Keynes' contributions to macroeconomics and offers an in-depth analysis of the contested legacy of The General Theory, a book that marked the emergence of modern macroeconomics from the earlier heritage of monetary theory and business cycle and analysis.
Download or read book The Keynesian Cross written by Claudia Heller and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The General Theory of Employment, Interest and Money by John Maynard Keynes led up to three cross-shaped graphical interpretations: the IS-LM model, the 45o model and the Z-D model. The first one was originated from Hicks (1937) well-known paper, despite the differences between his original version and the textbook versions. The second one has become familiar through Alvin Hansen's 1953 book, to which Paul Samuelson also contributed. These two models are considered to be neoclassical - the meaning of which in this particular context will be discussed in our paper. The third model has became popular through Dudley Dillard's 1948 book and is embraced - with few qualifications - by Post Keynesians, who consider it to be more faithful to Keynes's original 1936 book. The three models are graphical (and algebraical) formalizations of Keynes's theory, but the last two are more specific in that they are focused on the explanation of the Principle of Effective Demand (PED). This paper compares the two graphical representations of the PED in the light of the definitions of aggregate demand, aggregate supply and effective demand, as they were presented by Keynes in the General Theory. The purpose of the paper is to identify which original arguments by Keynes support each of both models.
