IDEAS home Printed from https://ideas.repec.org/a/oup/cambje/v18y1994i1p73-76.html
   My bibliography  Save this article

Kahn and Economic Dynamics

Author

Listed:
  • Goodwin, Richard

Abstract

In his famous book, The General Theory of Employment, Interest and Money, Keynes was less than generous to his pupil and admirer Kahn. In 1931, the late Lord Kahn published an analysis of the revolutionary concept that national output was controlled by available resources but by effective demand. His analysis was both sequential and nonlinear and hence could generate chaotic, irregular time series of national output with the remarkable new conception that a completely determinate system, with fully specified structure, could generate behavior which was irregular and unpredictable. This remarkable conception meant that the familiar irregularity of economic time series had not one but two sources: not only the exogenous shocks but also unpredictable behavior generated endogenously by the nonlinearities characteristic of economic structures. (c) 1994 Academic Press, Inc. Copyright 1994 by Oxford University Press.

Suggested Citation

  • Goodwin, Richard, 1994. "Kahn and Economic Dynamics," Cambridge Journal of Economics, Oxford University Press, vol. 18(1), pages 73-76, February.
  • Handle: RePEc:oup:cambje:v:18:y:1994:i:1:p:73-76
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    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:oup:cambje:v:18:y:1994:i:1:p:73-76. 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: (Oxford University Press) or (Christopher F. Baum). General contact details of provider: https://academic.oup.com/cje .

    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 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.