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Mr. Meade's Relation, Kahn's Multiplier and the Chronology of the General Theory

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  • Dimand, Robert W

Abstract

Don Patinkin (1993) and James Meade (1993) explore the relationship among Kahn's multiplier, 'Mr. Meade's Relation,' and Keynes's theory of effective demand but do not quote Mr. Meade's Relation as it appeared in R. F. Kahn (1931). This note shows that the 1931 version of Mr. Meade's Relation did not include a personal saving propensity. Instead it included other leakages not in the 1993 version. Attention is drawn to derivation of a finite multiplier using the marginal propensity to save by Meade (1933) and by Ralph Hawtrey (1932). Copyright 1994 by Royal Economic Society.

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  • Dimand, Robert W, 1994. "Mr. Meade's Relation, Kahn's Multiplier and the Chronology of the General Theory," Economic Journal, Royal Economic Society, vol. 104(426), pages 1139-1142, September.
    • Handle: RePEc:ecj:econjl:v:104:y:1994:i:426:p:1139-42
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