After Twenty Years: The General Theory

James R. Schlesinger

The Quarterly Journal of Economics, 1956, vol. 70, issue 4, 581-602

Abstract: I. Background of the General Theory, 581. — II. The General Theory and its implications, 583. — III. Contrast with the classical position, 586. — IV. The restoration of full employment and the Pigou effect, 588. — V. The failure of the General Theory, 590. — VI. Background of the Pigou effect, 592. — VII. Neo-Keynesian resistance to the Pigou effect, 594. — VIII. Methodology, terminology, and policy, 598. — IX. Conclusion, 602.

Date: 1956
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