Malthus and Keynes

R P Rutherford

Oxford Economic Papers, 1987, vol. 39, issue 1, 175-89

Abstract: Keynes claimed Malthus as a forerunner. Most commentators have argued that he was mistaken. However, the comparison has been unduly concentrated on Keynes's General Theory. The chronology of the claims Keynes made for Malthus suggests that we examine other sources, especially the Treatise on Money. It is argued that Malthus's analysis of the post-Napoleonic depression corresponds to the depression process in Keynes's Treatise and that there is an essential similarity of conception over the role of the rate of profit and the way changes in income distribution can result in a failure of effective demand. Copyright 1987 by Royal Economic Society.

Date: 1987
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