Cambridge and Its Revolution: A Perspective on the Multiplier and Effective Demand

Neville Cain

The Economic Record, 1979, vol. 55, issue 2, 108-117

Abstract: The tendency of various scholarship has been so to interpret Kahn's multiplier article as to invite wonder that Keynes did not break through earlier to his consumption function and effective demand. And while Keynes was independently along this road it is difficult to believe that Jens Warming, deploying a personal propensity to save within the investment multiplier mechanism, did not help him to arrive. Ironically Kahn, who resisted Warming's innovation, did incidentally point the way to a formulation of the effective demand problem which was alternative to that of Keynes.

Date: 1979
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