Patinkin, Keynes and the Z curve

Rogério Arthmar () and Michael Emmett Brady
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Michael Emmett Brady: California State University - Department of Operations Management

History of Economic Ideas, 2009, vol. 17, issue 3, 127-146

Abstract: This paper reconstructs how Keynes managed to formally develop the concept of aggregate supply in chapter 20 of the General Theory. As a preamble, the first section recaps Don Patinkin’s long struggle to devise the correct expression for the so-called Z curve while, at the same time, he emphasized Keynes’ mathematical inability to have properly conceived such a concept. The second section shows not only that Keynes did not make any major error while devising the idea of an aggregate supply curve but also that he gave it an adequate foundation following the original approach previously formulated by Pigou.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:hid:journl:v:17:y:2009:3:6:p:127-146

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