IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/28980.html
   My bibliography  Save this paper

(Mis)understanding Classical Economics

Author

Listed:
  • Thomas, Alex M

Abstract

In 1936, Keynes published The General Theory of Employment, Interest and Money, one of the most influential books in economics of the twentieth century. With this publication, Keynes has confused and will continue to confuse generations of economists as to what classical economics means. This short essay argues that the 'classical economists' whom Keynes referred to in The General Theory were actually those economists who primarily employed 'marginal methods' in economics.

Suggested Citation

  • Thomas, Alex M, 2011. "(Mis)understanding Classical Economics," MPRA Paper 28980, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:28980
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/28980/1/MPRA_paper_28980.pdf
    File Function: original version
    Download Restriction: no

    References listed on IDEAS

    as
    1. Hideo Konishi, 2004. "Uniqueness of User Equilibrium in Transportation Networks with Heterogeneous Commuters," Transportation Science, INFORMS, pages 315-330.
    2. Ross, Stephen L. & Yinger, John, 2000. "Timing Equilibria in an Urban Model with Congestion," Journal of Urban Economics, Elsevier, vol. 47(3), pages 390-413, May.
    3. Masso, Jordi, 1993. "Undiscounted equilibrium payoffs of repeated games with a continuum of players," Journal of Mathematical Economics, Elsevier, vol. 22(3), pages 243-264.
    4. Masso, Jordi & Rosenthal, Robert W., 1989. "More on the "anti-folk theorem"," Journal of Mathematical Economics, Elsevier, vol. 18(3), pages 281-290, June.
    5. Sandholm, William H., 2001. "Potential Games with Continuous Player Sets," Journal of Economic Theory, Elsevier, vol. 97(1), pages 81-108, March.
    6. Terry E. Daniel & Eyran J. Gisches & Amnon Rapoport, 2009. "Departure Times in Y-Shaped Traffic Networks with Multiple Bottlenecks," American Economic Review, American Economic Association, vol. 99(5), pages 2149-2176, December.
    7. Arnott, Richard & de Palma, Andre & Lindsey, Robin, 1993. "A Structural Model of Peak-Period Congestion: A Traffic Bottleneck with Elastic Demand," American Economic Review, American Economic Association, vol. 83(1), pages 161-179, March.
    8. Kaneko, Mamoru, 1982. "Some remarks on the folk theorem in game theory," Mathematical Social Sciences, Elsevier, vol. 3(3), pages 281-290, October.
    9. Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-260, May.
    10. In Lee, 1999. "Non-cooperative Tacit Collusion, Complementary Bidding and Incumbency Premium," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 15(2), pages 115-134, September.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Classical economics; Keynes; Ricardo;

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:pra:mprapa:28980. 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: (Joachim Winter). General contact details of provider: http://edirc.repec.org/data/vfmunde.html .

    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.