Keynes and the Long Period

Fernando Cardim de Carvalho

Cambridge Journal of Economics, 1990, vol. 14, issue 3, 277-90

Abstract: The concept of normality is developed by John Maynard Keynes independently of long-period concerns, based on features of the environment and of the way agents make their decisions. A long-period analysis along the lines set by Keynes would demand the study of the factors of continuity that connect each short period to the next. A long-period model "in the old sense," no matter what kind of theoretical innovation it may contain, will not do. Copyright 1990 by Oxford University Press.

Date: 1990
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