Format:
1 online resource (353 pages)
Edition:
1st ed.
ISBN:
9780415044752
,
9780203011546
Content:
Argues that a close reading of key texts in the two major schools of criticism of Keynes reveal that they disagree through misunderstandings, and differences of emphasis, rather than through fundamental differences of opinion
Note:
Front Cover -- On Interpreting Keynes -- Copyright Page -- Contents -- Preface -- Acknowledgements -- Part one -- 1 Introduction -- The inherited literature -- Why historians of thought disagree: psychological and methodological factors -- Vision and the process of interpretation -- Fundamentalism and reductionism: similarities and differences -- The role of uncertainty and the significance of conventions -- Part two -- 2 Leijonhufvud on unemployment andeffective demand -- Leijonhufvud's interpretation: a preliminary overview -- The response to Leijonhufvud's challenge -- Leijonhufvud on unemployment -- Leijonhufvud's evidence from Keynes -- Some objections to Leijonhufvud's portrayal of expectations -- The behaviour of producers -- The real wage and the marginal product of labour -- Instantaneous versus sticky wage adjustment -- 3 Involuntary unemployment in thehistory of economic thought -- Keynes and Mill -- The role of money -- Keynes and Pigou -- Money illusion -- Money illusion in Keynes -- Money illusion in classical economics -- Money illusion and the post-Keynesians -- Some modern views on involuntary unemployment -- 4 Effective demand: a theoretical and historical perspective -- Grossman's critique -- Monetary versus barter economies -- Some theoretical developments -- Liquidity constraints: Clower and Leijonhufvud versus Davidson and others -- Concluding remarks -- Part three -- 5 IS-LM and the interest-rate dynamics -- Introduction -- Some examples -- The 'Finance-your-losses' approach -- The role of IS-LM -- 6 On bootstraps and traps -- Introduction -- Conventions and interest rates -- Theoretical foundations of the trap -- The liquidity trap in Keynes -- Some concluding remarks on the trap -- 7 Expenditure and the interest rate -- An overview -- The aggregation question: evaluating Leijonhufvud -- Investment and the rate of interest
,
The stability of the MEI curve -- Keynes on monetary policy -- Keynes versus Robertson on monetary policy -- 8 Recovery in the long run? -- Long-run recovery in theory and in practice -- Wealth effects -- Part four -- 9 Conventions -- Overview -- The wealth holders -- The investors -- The speculators -- Some remarks on cognitive dissonance -- The producers -- The consumer -- The labourer -- Conventional zones -- Perspectives on conventional conduct -- A Hume connection? -- Fundamentalism in perspective -- Fundamentalism and rational expectations -- A concluding remark -- References -- Author index -- Subject index
Additional Edition:
Print version Littleboy, Bruce On Interpreting Keynes Oxford : Taylor & Francis Group,c1991 ISBN 9780415044752
Language:
English
Keywords:
Electronic books
URL:
FULL
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