Hicks, a Teoria Geral e a Teoria Geral generalizada
Hicks, the General Theory and the generalization of the General Theory
Claudia Heller ()
MPRA Paper from University Library of Munich, Germany
Despite the most common interpretation of John Hicks´s formalization of the General Theory that it was mainly oriented to achieve "mathematical elegance", this paper shows that Hicks´s results are based on theoretical arguments and specific causality relations. Hicks acknowledges the importance of the "liquidity preference doctrine" and examines the effects of investment on income (the multiplier) as well as the effects of income on investment (the accelerator). Our interpretation of Hicks´s formulation and especially of the role of the rate of interest rate in his paper avails the understanding of the success of the so-called "neoclassical synthesis".
JEL-codes: B2 B22 (search for similar items in EconPapers)
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https://mpra.ub.uni-muenchen.de/3286/1/MPRA_paper_3286.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/14399/1/MPRA_paper_14399.pdf revised version (application/pdf)
Journal Article: Hicks, A Teoria Geral e A Teoria Geral Generalizada (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:3286
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