L'allocation des ressources et leur niveau d'emploi dans le chapitre 21 de la Théorie Générale

Alexander Tobon

Revue d'économie politique, 2006, vol. 116, issue 3, 419-428

Abstract: The aim of this paper is to show the role of prices in Keynes?s monetary theory. More precisely, we show that in chapter 21 of the General Theory there exists a mechanism of relative prices. The employment level is determined, simultaneously, by effective demand and by relative prices. This result is derived from Keynesian price theory. In this theory, a rise in the quantity of money produces a non proportional price variation through effective demand. We show that Keynes?s theory is, at the same time, a theory of relative prices and a theory of the price level.

Keywords: Keynes; prices; money; allocation; employment (search for similar items in EconPapers)
Date: 2006
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