David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
Jack Alan Reynolds
Learn more about PhilPapers
Critical Review 3 (3-4):444-466 (1989)
The General Theory defended Keynes's long‐held belief that capitalism could not achieve full employment without government help. The effects of wage rigidity were well known; Keynes tried to show that even price flexibility—contrary to Say's Law—could not reduce unemployment. Keynes did so by hobbling his decisionmakers with “psychological laws,”; like the consumption function, that linked nominal prices together. These produced a rigidity of relative prices that justified government intervention. Keynes's followers seem to have rejected his psychological theories, emphasizing instead nominal rigidities or uncertainty, either of which is consistent with “classical”; thinking and Say's Law
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
O. Lange, F. McIntyre & T. O. Yntema (eds.) (1942). Studies in Mathematical Economics and Econometrics. University of Chicago Press.
Citations of this work BETA
No citations found.
Similar books and articles
Greg Hill (1994). Misreading Keynes: Reply to Garrison. Critical Review 8 (3):441-446.
Norbert F. Wiley (1983). The Congruence of Weber and Keynes. Sociological Theory 1:30-57.
Roger W. Garrison (1992). Keynesian Splenetics: From Social Philosophy to Macroeconomics. Critical Review 6 (4):471-492.
Greg Hill (1996). Capitalism, Coordination, and Keynes: Rejoinder to Horwitz. Critical Review 10 (3):373-387.
Guido Fioretti (2001). Von Kries and the Other ‘German Logicians’: Non-Numerical Probabilities Before Keynes. Economics and Philosophy 17 (2):245-273.
Michael Harrington (1982). Is Capitalism Still Viable? Journal of Business Ethics 1 (4):281 - 284.
T. Francis (2011). Review Essays: Keynes and Macroeconomics After 70 Years. Philosophy of the Social Sciences 41 (2):269-277.
Bradley Bateman (1996). Keynes's Uncertain Revolution. University of Michigan Press.
Brian Weatherson (2002). Keynes, Uncertainty and Interest Rates. Cambridge Journal of Economics 26 (1):47-62.
John Bryan Davis (1994). Keynes's Philosophical Development. Cambridge University Press.
Victoria Chick (2003). Theory, Method and Mode of Thought in Keynes'sGeneral Theory. Journal of Economic Methodology 10 (3):307-327.
Marcelo Tsuji (2000). Partial Structures and Jeffrey-Keynes Algebras. Synthese 125 (1-2):283-299.
David Felix (1994). Interpreting Keynesian Instinct and Keynesian Theory: Reply to Garrison. Critical Review 8 (3):447-449.
Sorry, there are not enough data points to plot this chart.
Added to index2011-10-18
Total downloads1 ( #744,999 of 1,789,985 )
Recent downloads (6 months)1 ( #424,764 of 1,789,985 )
How can I increase my downloads?