Kahn-Hicks' Criticism of the Independence of Prices in Keynes' «Treatise on Money»

Alexander Tobon

History of Economic Ideas, 2006, vol. 14, issue 1, 113-122

Abstract: Keynes formulated the idea that consumer goods prices are independent of prices for new investment goods. This notion was rejected by Kahn, who felt that an independence of this sort stems from certain highly specific hypotheses. Unfortunately, after corresponding with Kahn, Keynes ended up by accepting this criticism. A few years later, Hicks resurrected Kahn’s viewpoint when commenting upon the Treatise. The purpose of the present text is to demonstrate that Kahn-Hicks’s criticism is incompatible with the central message of the Treatise, since it implies an equality between investment and savings, asserting their identicalness, whereas for Keynes this equality is a condition of monetary equilibrium.

Date: 2006
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.libraweb.net/articoli.php?chiave=200606101&rivista=61
Access to full text is restricted to subscribers

Related works:
Working Paper: KAHN-HICKS' CRITICISM OF THE INDEPENDENCE OF PRICES IN KEYNES'S TREATISE ON MONEY (2006)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hid:journl:v:14:y:2006:1:4:p:113-122

Access Statistics for this article

History of Economic Ideas is currently edited by Riccardo Faucci, Nicola Giocoli, Roberto Marchionatti

More articles in History of Economic Ideas from Fabrizio Serra Editore, Pisa - Roma
Bibliographic data for series maintained by Mario Aldo Cedrini ().