Keynes’ Marshallian Heritage and the Walrasian Eclipse

Neil Hart
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Neil Hart: University of Western Sydney

Chapter 4 in Alfred Marshall and Modern Economics, 2013, pp 75-92 from Palgrave Macmillan

Abstract: Abstract This chapter extends discussion in the previous chapter to consider the establishment of equilibrium analysis within macroeconomic theory. This discussion also provides an opportunity to reflect on Marshall’s influences on the contributions of his favourite pupil, John Maynard Keynes and on the extent to which subsequent development of macroeconomic theory has diverged from the methodological approach adopted by both Keynes and Marshall.

Keywords: Imperfect Competition; Modern Economic; Walrasian Equilibrium; Effective Demand; Perfect Competition (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-02975-1_4

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DOI: 10.1057/9781137029751_4

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