John Maynard Keynes' New economic theory revisited.

Reply Mon 1 Nov, 2004 08:58 pm
Keynes was brilliant, and his economic theories work fine in the short run in closed economies. Medium and long run, in economies open to international capital movements, his equations only work when they are identities, eg
Y=C+I+G+X-M, with I including international capital.

On Nash who did no more than examine a special case of Cournot's duopoly equilibrium I'm in agreement with Craven.
0 Replies
Reply Thu 10 Feb, 2005 05:53 am
Hi guys,

You might be interested to learn that John Maynard Keynes' early title, "The Economic Consequences of the Peace", has been published online at www.econlib.org. You can find the table of contents here. Happy browsing!
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Reply Mon 20 Mar, 2006 08:55 am
Paul Krugman has written a preface to Keynes's General Theory. It explains what was so radical about Keynes's ideas when he first published them, and why they are now so widely accepted even by conservatives who claim to abhor everything Keynesian. Definitely worth a read.
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satt fs
Reply Mon 20 Mar, 2006 09:03 am
Thanks for the link, Thomas. I would examine the article.
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