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Self-fulfilling Expectations and The General Theory

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  • Colin Rogers

Abstract

It might be more accurate, perhaps, to say that the rate of interest is a highly conventional, rather than a highly psychological phenomenon. For its actual value is largely governed by the prevailing view as to what its value is expected to be. Any level of interest which is accepted with sufficient conviction as likely to be durable will be durable& J. M. Keynes (1936, p. 203)

Suggested Citation

  • Colin Rogers, 1996. "Self-fulfilling Expectations and The General Theory," History of Economics Review, Taylor & Francis Journals, vol. 25(1), pages 172-183, January.
    • Handle: RePEc:taf:rherxx:v:25:y:1996:i:1:p:172-183
    DOI: 10.1080/10370196.1996.11733227
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