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Subverting Say's Law. Harlan McCracken and the Commons Keynes connection

In: Financial Instability and Economic Security after the Great Recession

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  • Steven Kates

Abstract

This timely book rethinks economic theory and policy by addressing the problem of economic instability and the need to secure broadly shared prosperity. It stresses that advancing economics in the wake of the Great Recession requires an evolutionary standpoint, greater attention to uncertainty and expectations, and the integration of finance into macroeconomics. The result is a broader array of policy options – and challenges – than conventional economics presents.

Suggested Citation

  • Steven Kates, 2011. "Subverting Say's Law. Harlan McCracken and the Commons Keynes connection," Chapters, in: Charles J. Whalen (ed.), Financial Instability and Economic Security after the Great Recession, chapter 1, pages 15-27, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:14489_1
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    References listed on IDEAS

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    1. J. M. Keynes, 1937. "The General Theory of Employment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 51(2), pages 209-223.
    2. Charles J. Whalen, 2008. "John R. Commons and John Maynard Keynes on Economic History and Policy: The 1920s and Today," Journal of Economic Issues, Taylor & Francis Journals, vol. 42(1), pages 225-242, March.
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