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Effective Demand: Securing the Foundations

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  • Olivier Allain

    ()
    (Centre d'Économie de la Sorbonne)

Abstract

This paper is a contribution to a symposium mutually reviewing papers on Keynes's principle of effective demand as set out in The General Theory, by Allain (2009. Effective demand and short-term adjustments in the General Theory, Review of Political Economy, vol. 21, 1–22), Hartwig (2007. Keynes vs. the Post Keynesians on the principle of effective demand, European Journal of the History of Economic Thought, vol. 14, 725–39), and Hayes (2007. The point of effective demand, Review of Political Economy, 19 (1), 55–80). The purpose of the symposium was to address some key differences of interpretation that continue to undermine the reception of Keynes's central idea.

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File URL: http://www.postkeynesian.net/downloads/wpaper/PKWP1210.pdf
File Function: First version, 2011
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Bibliographic Info

Paper provided by Post Keynesian Economics Study Group (PKSG) in its series Working Papers with number PKWP1210.

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Length: 7 pages
Date of creation: May 2011
Date of revision:
Handle: RePEc:pke:wpaper:pkwp1210

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Web page: http://www.postkeynesian.net
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Keywords: equilibrium; expectations; aggregate supply; aggregate demand;

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  1. Olivier Allain, 2009. "Effective Demand and Short-term Adjustments in the General Theory," Review of Political Economy, Taylor & Francis Journals, vol. 21(1), pages 1-22.
  2. Mark Hayes, 2007. "The Point of Effective Demand," Review of Political Economy, Taylor & Francis Journals, vol. 19(1), pages 55-80.
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