Economic Management in the General Theory

Michael Perelman

Chapter 2 in Keynes, Investment Theory and the Economic Slowdown, 1989, pp 47-102 from Palgrave Macmillan

Abstract: Abstract Keynes insisted, ‘An excessive output of consumption goods is not expansive’ (Keynes to Harrod, 17 August 1938, CW XIV, p. 324). The chapter of the General Theory devoted to the marginal propensity to consume ended with the assertion that stimulating consumption is useful because it results in a disproportionate increase in investment (Keynes, 1936, pp. 104–6).

Keywords: Monetary Policy; Asset Price; Real Wage; Capital Good; Financial Asset (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-19940-2_2

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DOI: 10.1007/978-1-349-19940-2_2

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