From equilibrium to disequilibrium: the genesis of Don Patinkin's interpretation of the Keynesian theory
AbstractThis paper explains the reasons that led Don Patinkin to interpret the Keynesian theory in a disequilibrium perspective. We claim that the author adopted this position because he believed that the assumption of wage rigidity misrepresented the concept of involuntary unemployment and that, consequently, it had to be rejected. It is shown that this conclusion resulted from the confrontation of Patinkin, during the writing of his Ph.D. thesis, with the interpretations of the Keynesian theory argued respectively by Lange, Klein and Modigliani.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal The European Journal of the History of Economic Thought.
Volume (Year): 9 (2002)
Issue (Month): 2 ()
Contact details of provider:
Web page: http://www.tandfonline.com/REJH20
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Michael De Vroey, 2000.
"IS-LM à la Hicks versus IS-LM à la Modigliani,"
History of Political Economy,
Duke University Press, vol. 32(2), pages 293-316, Summer.
- De Vroey, Michel, 1997. "IS-LM "à la Hicks" versus IS-LM "à la Modigliani"," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1998003, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Michel De Vroey, 2002. "Can slowly adjusting wages explain involuntary unemployment? A critical re-examination of Patinkin's theory of involuntary unemployment," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(2), pages 293-307.
- Goulven Rubin, 2010.
"Don Patinkin's Ph.D. dissertation as the prehistory of disequilibrium theories,"
- Goulven Rubin, 2012. "Don Patinkin's PhD Dissertation as the Prehistory of Disequilibrium Theories," History of Political Economy, Duke University Press, vol. 44(2), pages 235-276, Summer.
- Goulven Rubin, 2005. "La controverse entre Clower et Patinkin au sujet de la validité de la loi de Walras," Revue économique, Presses de Sciences-Po, vol. 56(1), pages 5-24.
- Goulven Rubin, 2004.
"Patinkin on IS-LM: An Alternative to Modigliani,"
History of Political Economy,
Duke University Press, vol. 36(5), pages 190-216, Supplemen.
- BOIANOVSKY, Mauro, 2001.
"Patinkin, the cowles commission, and the theory of unemployment and aggregate supply,"
2001039, University of Antwerp, Faculty of Applied Economics.
- Mauro Boianovsky, 2002. "Patinkin, the Cowles Commission, and the theory of unemployment and aggregate supply," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(2), pages 226-259.
- Roger Backhouse & Mauro Boianovsky, 2005. "Disequilibrium Macroeconomics: An Episode In The Transformation Of Modern Macroeconomics," Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33th Brazilian Economics Meeting] 012, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
- Rancan, Antonella, 2012. "Modigliani's 1944 Wage Rigidity Assumption and the Construction of the Neoclassical Synthesis," Economics & Statistics Discussion Papers esdp12069, University of Molise, Dept. EGSeI.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.