La controverse entre Clower et Patinkin au sujet de la validité de la loi de Walras

Goulven Rubin

Revue économique, 2005, vol. 56, issue 1, 5-24

Abstract: This paper analyzes the controversy which opposed Clower and Patinkin about the validity of Walras law within the framework of the Keynesian theory. Quite paradoxically, it demonstrates that if Clower confronted Patinkin on this point it was precisely because he followed the conception of the Keynesian theory set out in chapter 13 of Money, Interest and Prices. The paradox, it is shown, is due to the fact that Patinkin refused to admit that his own theory questioned Walras law. On this basis, we offer an interpretation of the impasse on which the debate ended, a fact revealed by the correspondence between the two economists in 1990.

Date: 2005
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