David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Critical Review 3 (3-4):435-443 (1989)
THE KEYNESIAN REVOLUTION AND ITS CRITICS: ISSUES OF THEORY AND POLICY FOR THE MONETARY PRODUCTION ECONOMY by Gordon A. Fletcher New York: St. Martin's Press, 1987. 348pp., $35.00 A commonplace of the history of economic thought, repeated by Fletcher, holds that Keynes was the first economist of the 1930s to reject Say's Law of Markets. It is argued that Fletcher ignores many of Keynes's contemporaries, especially those influenced by Knut Wicksell, who disagreed with Say but who used a framework for monetary analysis that was sounder in all respects than that of Keynes's General Theory.
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