Keynes's General Theory: valid only for modern capitalism?

David Dequech

Journal of Post Keynesian Economics, 2003, vol. 25, issue 3, 471-491

Abstract: Some interpretations restrict the applicability of the General Theory to modern capitalism because of the financial institutions assumed by Keynes. Although acknowledging some evidence in support of these interpretations, the paper argues that Keynes also developed the fundamental elements of a general theory of unemployment and potential instability under capitalism, without having clearly disentangled these elements from more institutionally specific ideas. Such a general theory applies to all types of capitalist economy, but still is institutionally specific, referring to capitalism. The paper extracts this more general message, which was partly obscured by Keynes's emphasis on modern financial institutions.

Date: 2003
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/01603477.2003.11051369 (text/html)
Access to full text is restricted to subscribers.

Related works:
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:mes:postke:v:25:y:2003:i:3:p:471-491

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MPKE20

DOI: 10.1080/01603477.2003.11051369

Access Statistics for this article

More articles in Journal of Post Keynesian Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().