Capitalism, coordination, and Keynes: Rejoinder to Horwitz

Critical Review 10 (3):373-387 (1996)
Abstract In the ideal market of general equilibrium theory, choices are made in full knowledge of one another, and all expectations are fulfilled. This pre?harmonization of individual plans does not occur in real?world markets where decisions must be taken in ignorance of one another. The Austrian school grants this, but claims that real?world price systems are nonetheless effective in coordinating saving and investment decisions, which are motivated by disparate considerations. In contrast, Keynes held that without the pre?reconciliation of individual plans, investment and employment would be less than optimal, and the resulting distribution of income arbitrary and inequitable.
Keywords No keywords specified (fix it)
Categories (categorize this paper)
DOI 10.1080/08913819608443429
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
Download options
PhilPapers Archive

Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 24,411
External links
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
Greg Hill (1997). Justice and Natural Inequality. Journal of Social Philosophy 28 (3):16-30.

Add more references

Citations of this work BETA

Add more citations

Similar books and articles

Monthly downloads

Added to index


Total downloads

8 ( #467,641 of 1,924,738 )

Recent downloads (6 months)

1 ( #417,923 of 1,924,738 )

How can I increase my downloads?

My notes
Sign in to use this feature

Start a new thread
There  are no threads in this forum
Nothing in this forum yet.