Open access
Author
Date
2004-06Type
- Working Paper
ETH Bibliography
yes
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Abstract
The American Post Keynesians – those who attach importance to the ‘Big P’ and the absence of a dash between ‘post’ and ‘Keynesian’ – claim to be Keynes’s most literal interpreters, or the ‘truest’ Keynesians (HOLT ET AL., 1998, p. 17). This paper compares the Post Keynesian interpretation of the Principle of Effective Demand, i.e. the D/Z-model, with Keynes’s own presentation in Chapter 3 of the General Theory – and finds substantial differences. A reinterpretation of the D/Z-model is offered that would bring it into line with Chapter 3. Show more
Permanent link
https://doi.org/10.3929/ethz-a-004871570Publication status
publishedJournal / series
KOF Working PapersVolume
Publisher
KOF Swiss Economic Institute, ETH ZurichSubject
KEYNESIANISM (ECONOMIC THEORIES); DEMAND (ECONOMIC THEORY); NACHFRAGE (WIRTSCHAFTSTHEORIE); Effective demand; D/Z-model; KEYNESIANISMUS (WIRTSCHAFTSTHEORIEN)Organisational unit
02525 - KOF Konjunkturforschungsstelle / KOF Swiss Economic Institute
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ETH Bibliography
yes
Altmetrics