Conditional validity of the equilibrium in Keynes' General Theor

Ricardo Ramalhete Moreira ()

Brazilian Journal of Political Economy, 2009, vol. 29, issue 3, 153-172

Abstract: It discusses that the equilibrium in Economics, as a method of analysis, has a conditional utility, when it is not necessary its association with ideal situations and with a constancy of structural parameters of the system. Keynes (1936) appears as an example of a good utilization of that method, for he doesn't link it with notions of social potmum or with a necessary system's structural stability. JEL Classification: B40; E12.

Keywords: equilibrium; social optimum; structural change; Keynes (search for similar items in EconPapers)
Date: 2009
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