Say’s Law and the Keynesian Revolution

Steven Kates

in Books from Edward Elgar Publishing

Abstract: This highly original contribution examines one of the most controversial concepts in the history of economics – the true meaning of the Law of Markets. This has been a contentious issue since the publication of Keynes’s General Theory, but has also divided economists since it first emerged almost two centuries ago in the writings of James Mill. This book discusses the change in the understanding of the nature of the business cycle wrought by the General Theory whose major innovation in overturning Say’s Law was to introduce demand deficiency into mainstream economic thought.

Keywords: Economics and Finance (search for similar items in EconPapers)
JEL-codes: B0 (search for similar items in EconPapers)
Date: 1998
ISBN: 9781858987484
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