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Foundations: Units, Expectations, Income

In: The General Theory of Profit Equilibrium

Author

Listed:
  • Connell Fanning

    (National University of Ireland)

  • David O Mahony

    (University College)

Abstract

In the course of writing The General Theory, Keynes found that ‘three perplexities’ impeded his progress. He could not ‘express [himself] conveniently’ until he had found ‘some solution for them’ (CW, VII: 37). The three perplexities were ‘the choice of units of quantity appropriate to the problems of the economic system as a whole; … the part played by expectation in economic analysis; … and … the definition of income’ (CW, VII: 37).

Suggested Citation

  • Connell Fanning & David O Mahony, 1998. "Foundations: Units, Expectations, Income," Palgrave Macmillan Books, in: The General Theory of Profit Equilibrium, chapter 3, pages 40-56, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-50228-4_3
    DOI: 10.1057/9780230502284_3
    as

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