Keynes and the Concept of Equilibrium

G. Caravale

Chapter 7 in The Notion of Equilibrium in the Keynesian Theory, 1992, pp 74-98 from Palgrave Macmillan

Abstract: Abstract This chapter offers an interpretation of the core of Keynes’s General Theory in terms of a classical type notion of natural equilibrium. The purpose is to show that this latter notion is the only one capable of supplying a satisfactory representation of Keynes’s conception of unemployment as a ‘dominant’, non-transitory feature of contemporary economic systems.

Keywords: Equilibrium Position; Investment Project; Full Employment; Calendar Time; Economic Thought (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-22086-1_7

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DOI: 10.1007/978-1-349-22086-1_7

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