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La controverse entre Clower et Patinkin au sujet de la validité de la loi de Walras

Author

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  • Goulven Rubin

    (LED - Laboratoire d'Economie Dionysien - UP8 - Université Paris 8)

Abstract

This paper analyzes the controversy which opposed Clower and Patinkin about the validity of Walras law within the framework of the Keynesian theory. Quite paradoxically, it demonstrates that if Clower confronted Patinkin on this point it was precisely because he followed the conception of the Keynesian theory set out in chapter 13 of Money, Interest and Prices. The paradox, it is shown, is due to the fact that Patinkin refused to admit that his own theory questioned Walras law. On this basis, we offer an interpretation of the impasse on which the debate ended, a fact revealed by the correspondence between the two economists in 1990.

Suggested Citation

  • Goulven Rubin, 2005. "La controverse entre Clower et Patinkin au sujet de la validité de la loi de Walras," Post-Print halshs-00636829, HAL.
    • Handle: RePEc:hal:journl:halshs-00636829
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    Cited by:

    1. Nicolas Piluso & E. Le Héron & Edouard Cottin-Euziol, 2022. "Is Keynes's involuntary unemployment only cyclical? A review of the debates on the formalization of Keynesian unemployment [Le chômage involontaire de Keynes n’est-il que conjoncturel ? Un retour sur les débats autour de la formalisation du chômag," Post-Print hal-03826068, HAL.
    2. van den Hauwe, Ludwig, 2008. "Free Banking, the Real-Balance Effect, and Walras´ Law," MPRA Paper 8765, University Library of Munich, Germany.
    3. Goulven Rubin, 2014. "Disequilibrium economics: some comments about its nature, origins and fate. A review essay of "Transforming Modern Macroeconomics, The Relationship of Micro and Macroeconomics in Historical Perspective" (2013)," Working Papers halshs-01091765, HAL.
    4. Plassard, Romain, 2015. "Clower's about-face regarding the 'Keynesian Revolution'," MPRA Paper 69233, University Library of Munich, Germany.

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