sprache deutsch
sprache english
» shopping cart
0 article(s) - 0.00 EUR

Montag, 24. September 2018
 welcome page » methodology 
quick search


The <i>General Theory After 80 Years</i>: Time for the Methodological Revolution
download size:
approx. 374 kb

The General Theory After 80 Years: Time for the Methodological Revolution

29 pages · 4.39 EUR
(December 2017)

I agree with the terms and conditions, especially point 10 (only private use, no transmission to third party) and accept that my order cannot be revoked.

From the article:

It is a central starting point for Marglin that Keynes's assertion that a self-regulated capitalist economy will not gravitate to full employment cannot be proven on the basis of static analysis or comparative-static equilibrium considerations. Rather, a genuine dynamic analysis is required that goes beyond the “correspondence principle” developed by Samuelson. So the core of Marglin’s reformulation of the Keynesian approach consists of two assumptions that are essential for the dynamic adjustment problem. They concern, on the one hand, the relative adjustment rates of money wages and prices on labour and goods markets and, on the other hand, the question of how entrepreneurs react to the dual signals outside equilibrium in their decisions on production quantities and pricing. The application of a dynamic analysis would make it clear that the core of Keynesian theory is not the emphasis on nominal rigidities, but rather the emphasis on the importance of aggregate demand, which also applies when eliminating such rigidities, i.e. in a flexprice economy.

quotable essay from ...
Keynes, Geld und Finanzen
Harald Hagemann, Jürgen Kromphardt, Markus Marterbauer (Hg.):
Keynes, Geld und Finanzen
Der Autor
Prof. Dr. Stephen A. Marglin
Stephen A. Marglin

holds the Walter S. Barker Chair in the Department of Economics at Harvard University.

[more titles]