Advanced Search
MyIDEAS: Login

Keynes versus the Post Keynesians on the Principle of Effective Demand

Contents:

Author Info

Abstract

The American Post Keynesians – those who attach importance to the ‘Big P’ and the absence of a dash between ‘post’ and ‘Keynesian’ – claim to be Keynes’s most literal interpreters, or the ‘truest’ Keynesians (HOLT ET AL., 1998, p. 17). This paper compares the Post Keynesian interpretation of the Principle of Effective Demand, i.e. the D/Z-model, with Keynes’s own presentation in Chapter 3 of the General Theory – and finds substantial differences. A reinterpretation of the D/Z-model is offered that would bring it into line with Chapter 3.

Download Info

If 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.
File URL: http://www.kof.ethz.ch/publications/science/pdf/wp_88.pdf
Download Restriction: no

Bibliographic Info

Paper provided by KOF Swiss Economic Institute, ETH Zurich in its series KOF Working papers with number 04-88.

as in new window
Length: 49 pages
Date of creation: Jun 2004
Date of revision:
Handle: RePEc:kof:wpskof:04-88

Contact details of provider:
Postal: Weinbergstrasse 35, CH-8092 Zürich
Phone: +41 44 632 41 28
Fax: +41 44 632 12 18
Email:
Web page: http://www.kof.ethz.ch
More information through EDIRC

Related research

Keywords: Effective demand; D/Z-model;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
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.:
as in new window
  1. Giuseppe Fontana, 2004. "Hicks on monetary theory and history: money as endogenous money," Cambridge Journal of Economics, Oxford University Press, vol. 28(1), pages 73-88, January.
  2. J. A. Kregel, 1985. "Sidney Weintraub's Macrofoundations of Microeconomics and the Theory of Distribution," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 7(4), pages 540-558, July.
  3. Hamouda, Omar F & Harcourt, G C, 1988. "Post Keynesianism: From Criticism to Coherence?," Bulletin of Economic Research, Wiley Blackwell, vol. 40(1), pages 1-33, January.
  4. Richard P.F. Holt & J. Barkley Rosser & Jr. & L. Randall Wray, 1998. "Paul Davidson's Economics," Macroeconomics 9809012, EconWPA.
  5. Felderer, Bernhard & Homburg, Stefan, 2005. "Makroökonomik und neue Makroökonomik," EconStor Books, ZBW - German National Library of Economics, number 92556, December.
  6. Davidson, Paul, 1972. "Money and the Real World," Economic Journal, Royal Economic Society, vol. 82(325), pages 101-15, March.
  7. Palley, Thomas I, 1997. "Expected Aggregate Demand, the Production Period and the Keynesian Theory of Aggregate Supply," The Manchester School of Economic & Social Studies, University of Manchester, vol. 65(3), pages 295-309, June.
  8. Paul Wells, 1987. "Keynes's Employment Function and the Marginal Productivity of Labor," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 9(4), pages 507-515, July.
  9. Hicks, J. R., 1987. "Methods of Dynamic Economics," OUP Catalogue, Oxford University Press, number 9780198772873.
  10. Victoria Chick, 1983. "Macroeconomics after Keynes: A Reconsideration of the General Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262530457, December.
  11. Kregel, J A, 1976. "Economic Methodology in the Face of Uncertainty: The Modelling Methods of Keynes and the Post-Keynesians," Economic Journal, Royal Economic Society, vol. 86(342), pages 209-25, June.
  12. Casarosa, Carlo, 1981. "The Microfoundations of Keynes's Aggregate Supply and Expected Demand Analysis," Economic Journal, Royal Economic Society, vol. 91(361), pages 188-94, March.
  13. Gilbert Koenig, 1980. "Les fondements microéconomiques du principe de la demande effective," Revue Économique, Programme National Persée, vol. 31(3), pages 430-464.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:kof:wpskof:04-88. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.

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