On Effective Demand: Certain Recent Critiques

K. Bharadwaj, A. Asimakopulos, Heinz Kurz and Human P. Minsky

Chapter 1 in Distribution, Effective Demand and International Economic Relations, 1983, pp 3-49 from Palgrave Macmillan

Abstract: Abstract The aim of this paper is to raise “some old-fashioned questions in economic theory” which appear to be critical for the direction that developments in the theory of effective demand is taking. The literature on “the economics of Keynes”, “what Keynes really meant” — constituting revaluation, reinterpretations and extensions — is so voluminous that selectivity about the choice of the questions is unavoidable. There are no easy answers, or even definitively unique ones, especially at the present stage of theory. Nevertheless, the present company — containing Keynesian stalwarts — assures me that we should be able to sort out the grain from the chaff.

Keywords: Reservation Price; Full Employment; Recent Critique; Wage Rigidity; Neoclassical Theory (search for similar items in EconPapers)
Date: 1983
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-17177-4_1

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DOI: 10.1007/978-1-349-17177-4_1

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