The Theory of Demand and Supply of Labour — The Post-Keynesian View

Jan Kregel

Chapter 2 in Barriers to Full Employment, 1988, pp 27-47 from Palgrave Macmillan

Abstract: Abstract The problem of the relation of wages to employment is certainly as old, and as widely debated, as the relation between money and prices proposed in the Quantity Theory of money. It is significant that Keynes broke with both positions (which he considered as being analytically equivalent) in his Treatise on Money. The quotation given above, which is still a fair representation of the post-Keynesian position, dates from a September 1930 memo for the Economists Advisory Council which Keynes prepared just after completion of work on the book.

Keywords: Labour Market; Real Wage; Demand Curve; Aggregate Demand; Full Employment (search for similar items in EconPapers)
Date: 1988
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DOI: 10.1007/978-1-349-19233-5_3

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