Chapter 3 once more
Abstract
We revisit the famous chapter in Keynes’ General Theory (GT) with the tools of modern microeconomics to 1. derive expressions for the elasticity of the supply curve, 2. define effective demand, 3. draw out Keynes’ comparative statics. The reconstruction is inspired by the inhouse to and fro preceding and following the publication of the classic, collated in The Collected Writings (CW).Downloads
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