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The Dual-faceted Nature of the Keynesian Revolution: Money and Money-wages in Unemployment and Production Flow Prices

In: Money and Employment

Author

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  • Louise Davidson

Abstract

The Keynesian Revolution has often been sited in the multiplier, the consumption function, animal spirits and investment, liquidity preference, dynamic disequilibrium, involuntary unemployment equilibrium, and perhaps several elements in combination. Most assessments, especially those by monetarists, have accused Keynes of underplaying the operation of the monetary mechanism - at least in The General Theory, though not in his Treatise on Money and in earlier work.

Suggested Citation

  • Louise Davidson, 1990. "The Dual-faceted Nature of the Keynesian Revolution: Money and Money-wages in Unemployment and Production Flow Prices," Palgrave Macmillan Books, in: Louise Davidson (ed.), Money and Employment, chapter 39, pages 530-542, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11513-6_40
    DOI: 10.1007/978-1-349-11513-6_40
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