Keynes’s Paradigm: A Theoretical Framework for Monetary Analysis

Louise Davidson

Chapter 16 in Money and Employment, 1990, pp 255-278 from Palgrave Macmillan

Abstract: Abstract The object of our analysis is, not to provide a machine, or method of blind manipulation, which will furnish an infallible answer, but to provide ourselves with an organized and orderly method of thinking out particular problems; and, after we have reached a provisional conclusion by isolating the complicating factors one by one, we then have to go back on ourselves and allow, as well as we can, for the probable interactions of factors amongst themselves. This is the nature of economic thinking. Any other way of applying our formal principles of thought … will lead us into error. (Keynes, 1936, p. 297)

Keywords: Real Wage; Demand Curve; Calendar Time; Spot Price; Effective Demand (search for similar items in EconPapers)
Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11513-6_17

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DOI: 10.1007/978-1-349-11513-6_17

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