 A Question of Relevance: The General Theory in Keynes’s Time and OursChapter 1 in On Money, Method and Keynes, 1992, pp 1-29 from Palgrave Macmillan Abstract: Abstract Nothing could stand as a better monument to Keynes, whose centenary this issue of The South African Journal of Economics is celebrating, than the fact that people are still arguing about his work: arguing not only for the sake of setting the record straight but also to understand what his work has to tell us about our present-day world. The General Theory (Keynes, 1936) is the focus of most of this discussion, and for good reason: despite the enormous volume of work which has been done since under the name of ‘macroeconomics’, the General Theory still stands as the major work in which macroeconomic questions — the theory of output-as-a-whole and of aggregate employment — have all been dealt with in a coherent manner. It is a theory whose parts fit together. Later ‘macro-theorists’ have tinkered with the parts and never put the pieces back together again to create something new. So we find, somewhat surprisingly, that after half a century the General Theory is still the best macroeconomics we have. Keywords: Capital Stock; Technical Change; Real Wage; Money Supply; Aggregate Demand (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-21935-3_1 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-21935-3_1 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.