IDEAS home Printed from https://ideas.repec.org/a/hid/journl/v12y200422p29-50.html
   My bibliography  Save this article

The Turning Point in Keynes's Theoretical Development. From «A Treatise on Money» to the «General Theory»

Author

Listed:
  • Toshiaki Hirai

    (Faculty of Economics, Sophia University, Tokyo, Japan)

Abstract

Our findings indicate that Keynes reached a turning point towards the end of 1932, meaning by this not his establishment of the theory determining the level of employment (or output), but his construction of a new model which we refer to as ‘Model 1’ below. The crucial evidence comes from two sources: the manuscript entitled «The Parameters of a Monetary Economy», and Keynes’s 1932 Michaelmas lectures. We also show that the Cambridge Circus, with Kahn as the central figure, greatly contributed to prompt Keynes to reconstruct his theory along new lines after a period of contrast with the Circus.

Suggested Citation

  • Toshiaki Hirai, 2004. "The Turning Point in Keynes's Theoretical Development. From «A Treatise on Money» to the «General Theory»," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 12(2), pages 29-50.
    • Handle: RePEc:hid:journl:v:12:y:2004:2:2:p:29-50
    as

    Download full text from publisher

    File URL: http://www.libraweb.net/articoli.php?chiave=200406102&rivista=61
    Download Restriction: Access to full text is restricted to subscribers
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hid:journl:v:12:y:2004:2:2:p:29-50. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mario Aldo Cedrini (email available below). General contact details of provider: http://www.libraweb.net .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.