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Meade's General Theory Model: A Geometric Reprise

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  • Darity, William A, Jr
  • Cottrell, Allin F

Abstract

James Meade's 1937 two-sector formalization of Keynes's General Theory is reconsidered in some detail. This paper developes a geometric scheme that facilitates the use of comparative statics in working with the Meade model to demonstrate the richness of its possibilities. The paper also argues that the Meade model might have provided a superior starting point for the development of algebraic interpretations of Keynes's system when compared with John R. Hicks's IS-LL framework, particularly since the Meade model affords a direct bridge toward James Tobin's monetary transmission mechanism. Copyright 1987 by Ohio State University Press.

Suggested Citation

  • Darity, William A, Jr & Cottrell, Allin F, 1987. "Meade's General Theory Model: A Geometric Reprise," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 19(2), pages 210-221, May.
    • Handle: RePEc:mcb:jmoncb:v:19:y:1987:i:2:p:210-21
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    Cited by:

    1. Ingo Barens & Volker Caspari, 1999. "Old views and new perspectives: on reading Hick's 'Mr. Keynes and the Classics'," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 6(2), pages 216-241.

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