IDEAS home Printed from https://ideas.repec.org/a/elg/rokejn/v4y2016i1p99-113.html
   My bibliography  Save this article

Keynes's attack on the citadel: proportionality, the two-price theory, and monetary circulation

Author

Listed:
  • Mark Lautzenheiser

    (Earlham College, USA)

  • Yavuz YaÅŸar

    (University of Denver, CO, USA)

Abstract

In the Treatise, Keynes claimed that the price levels of consumption and investment goods would not necessarily move in opposite directions. He further argued that the first claim had nothing to do with monetary circulation. If these two claims could be established, they would have constituted a direct attack on Ricardian economics and the economics of Marx, both of which are identified as self-adjustment mechanisms as in Say's law by Keynes. This paper seeks to evaluate these claims through the lenses of sector balance, the two-price theory, and monetary circulation.

Suggested Citation

  • Mark Lautzenheiser & Yavuz YaÅŸar, 2016. "Keynes's attack on the citadel: proportionality, the two-price theory, and monetary circulation," Review of Keynesian Economics, Edward Elgar Publishing, vol. 4(1), pages 99-113, January.
    • Handle: RePEc:elg:rokejn:v:4:y:2016:i:1:p99-113
    as

    Download full text from publisher

    File URL: http://www.elgaronline.com/abstract/journals/roke/4-1/roke.2016.01.09.xml
    Download Restriction: Restricted access
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Marx; Keynes; proportionality; monetary circulation;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E19 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elg:rokejn:v:4:y:2016:i:1:p99-113. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Phillip Thompson (email available below). General contact details of provider: http://www.elgaronline.com/roke .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.