An issue with own-rates: Keynes borrows from Sraffa , Sraffa criticises Keynes, and present-day commentators get hold of the wrong end of the stick
Scholars who in recent years have studied the Sraffa papers held in the Wren Library of Trinity College, Cambridge, have concluded from SraffaÃ¢â‚¬â„¢s critical (but unpublished) observations on Chapter 17 of KeynesÃ¢â‚¬â„¢s General Theory that he rejected KeynesÃ¢â‚¬â„¢s central proposition that the rate of interest on money may come to Ã¢â‚¬Ëœrule the roostÃ¢â‚¬â„¢, thus dragging the economy into recession. While Sraffa does indeed express dissatisfaction with Chapter 17, the commentators have, we believe, misunderstood his concern: we suggest that he was unhappy with the Ã¢â‚¬Ëœown-ratesÃ¢â‚¬â„¢ terminology employed by Keynes rather than with the substance of the theory developed in Chapter 17.
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- Giulio CODOGNATO & Ludovic A. JULIEN, 2013.
"Noncooperative Oligopoly in Markets with a Cobb-Douglas Continuum of Traders,"
Discussion Papers (REL - Recherches Economiques de Louvain)
2013044, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Giulio Codognato & Ludovic A. Julien, 2013. "Noncooperative Oligopoly in Markets with a Cobb-Douglas Continuum of Traders," Recherches économiques de Louvain, De Boeck Université, vol. 79(4), pages 75-88.
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Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(4), pages 923-946, November.
- Perez-Castrillo, J David & Verdier, Thierry, 1992. "A General Analysis of Rent-Seeking Games," Public Choice, Springer, vol. 73(3), pages 335-50, April.
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