Meade's General Theory Model: A Geometric Reprise

William Darity and Allin F Cottrell

Journal of Money, Credit and Banking, 1987, vol. 19, issue 2, 210-21

Abstract: James Meade's 1937 two-sector formalization of Keynes's General Theory is reconsidered in some detail. This paper developes a geometric scheme that facilitates the use of comparative statics in working with the Meade model to demonstrate the richness of its possibilities. The paper also argues that the Meade model might have provided a superior starting point for the development of algebraic interpretations of Keynes's system when compared with John R. Hicks's IS-LL framework, particularly since the Meade model affords a direct bridge toward James Tobin's monetary transmission mechanism. Copyright 1987 by Ohio State University Press.

Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:mcb:jmoncb:v:19:y:1987:i:2:p:210-21

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