Profit-Equilibrium

Connell Fanning and David O Mahony
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Connell Fanning: National University of Ireland
David O Mahony: University College

Chapter 8 in The General Theory of Profit Equilibrium, 1998, pp 146-162 from Palgrave Macmillan

Abstract: Abstract A preliminary view of the magnitudes at which equilibrium would hold was given in Chapter 4. Now that all the elements of the theory of employment, including Keynes’s resolution of the perplexities that confronted him, his method of dealing with the supply-side, his explanation of what determines consumption and investment on the demand-side as well as his explanation of the nature and function of the rate of interest are in place, it is possible to provide a comprehensive account of these magnitudes and of their interrelationships with one another. These interrelationships lead naturally to the concept of equilibrium that is inherent in the general theory of employment.

Keywords: Aggregate Demand; Full Employment; Individual Firm; Labour Unit; User Cost (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50228-4_8

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DOI: 10.1057/9780230502284_8

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