Say's Law and the Keynesian Revolution: How Macroeconomic Theory Lost Its Way

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Editorial Reviews

Provides an innovative exposition of the crucial point of division between classical and Keynesian economics, demonstrating that the role of demand deficiency was the fundamental issue at stake. Discusses Keynes interpretation of Say's Law and its development within classical theory, then goes on to chart the development of post- interpretations of Say's Law. The author suggests that Keyne's discovery of Malthus's writings on Say's Law during the Great Depression was a critical point in the origins of the . Annotation c. by Book News, Inc., Portland, Or.
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Product Details

  • ISBN-13: 9781858987484
  • Publisher: Elgar, Edward Publishing, Inc.
  • Publication date: 5/1/1998
  • Pages: 252

Table of Contents

List of Abbreviations
Introduction 1
1 Say's Law in the Structure of the General Theory 10
2 J.-B. Say, James Mill and Robert Torrens 21
3 David Ricardo 41
4 John Stuart Mill 58
5 Say's Law in English Classical Theory 74
6 Say's Law in the Classical Theory of the Business Cycle 102
7 Keynes's Discovery of Say's Law 130
8 Influences Deepening Keynes's Understanding of Say's Law 147
9 The Early Post-General Theory Evolution of Say's Law 158
10 Modern Interpretations of Say's Law 180
11 Critics of the Modern Interpretation 197
12 Conclusion 215
App. A Say's Law in the General Theory 218
App. B The Classical Definition of Say's Law 223
Bibliography 226
Index 241
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