The Truly General Theory of Employment: How Keynes Could Have Succeeded

Egmont Kakarot-Handtke ()

MPRA Paper from University Library of Munich, Germany

Abstract: There is not much use to attack standard economics because deep in his heart the representative economist long knows that he is tied to a degenerating research program. The problem is, rather, that it seems to be exceedingly difficult to build up a convincing alternative. Keynes, for one, tried and was successful – albeit not fully. Unfortunately, he got some basics wrong. The conceptual consequence of the present paper is to discard the accustomed subjective-behavioral axioms and to take objective-structural axioms as the formal point of departure for the analysis of employment as the main practical issue of economics.

Keywords: new framework of concepts; structure-centric; axiom set; price setter; full employment; multiplier; price mechanism; profit mechanism (search for similar items in EconPapers)
JEL-codes: B59 E12 E24 (search for similar items in EconPapers)
Date: 2014-03-12
New Economics Papers: this item is included in nep-hme, nep-hpe, nep-mac and nep-pke
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