Classical Macroeconomics: Some Modern Variations and DistortionsRoutledge, 2003 M05 22 - 272 páginas John Maynard Keynes failed to correctly interpret classic economic concepts, and dismissed the classical explanations and conclusions as being irrelevant to the world in which we live. The trauma of the Great Depression and Keynes's changed definition of economic concepts, aided by Eugen Bhm-Bawerk, have made it difficult for modern economists to |
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... loanable funds, from the perspective of households, (c) investment to mean the purchase of producers' or capital goods only rather than also the purchase of financial assets by households, and (d) money to mean currency in the hands of ...
... loanable funds, from the perspective of households, (c) investment to mean the purchase of producers' or capital goods only rather than also the purchase of financial assets by households, and (d) money to mean currency in the hands of ...
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... loanable funds. The same understanding would encourage policymakers to refrain from attempting to engineer low interest rates by inflating the volume of currency through the central bank, which ultimately would only lower the value of ...
... loanable funds. The same understanding would encourage policymakers to refrain from attempting to engineer low interest rates by inflating the volume of currency through the central bank, which ultimately would only lower the value of ...
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... (loanable funds out of savings), and land. Thus, Smith explains: There is in every society or neighbourhood an ordinary or average rate both of wages and profit in every different employment of labour and stock ["capital"]. This rate is ...
... (loanable funds out of savings), and land. Thus, Smith explains: There is in every society or neighbourhood an ordinary or average rate both of wages and profit in every different employment of labour and stock ["capital"]. This rate is ...
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Contenido
1 | |
7 | |
On the definition of money Classical vs modern | 29 |
The classical theories of interest the price level and inflation | 57 |
Keyness misinterpretation of the classical theory of interest | 79 |
The Austrians capital and the classical theory of interest | 96 |
Wicksell on the classical theories of money credit interest and the price level | 114 |
Fisher the classics and modern macroeconomics | 133 |
Full employment Keyness mistaken attribution to the classics | 158 |
Hicks the ISLM model and the success of Keyness distortions of classical macroeconomics | 177 |
The mythology of the Keynesian multiplier | 192 |
Conclusion | 211 |
Notes | 220 |
Bibliography | 234 |
Index | 245 |
The classical theory of growth and Keyness paradox of thrift | 144 |
Otras ediciones - Ver todas
Classical Macroeconomics: Some Modern Variations and Distortions James C.W. Ahiakpor Vista previa limitada - 2003 |
Classical Macroeconomics: Some Modern Variations and Distortions James C. W. Ahiakpor Vista previa limitada - 2003 |
Classical Macroeconomics: Some Modern Variations and Distortions James C. W. Ahiakpor Sin vista previa disponible - 2006 |
Términos y frases comunes
A.C. Pigou Adam Smith Ahiakpor Alfred Marshall argues Austrian bank deposits Bohm-Bawerk borrowers central bank changes Chapter claim classical arguments classical economics classical economists classical macroeconomics classical theory commodities consumption spending criticism David Ricardo definition of money demand and supply demand for capital demand for money demand theory determination economic growth emphasis added employed equilibrium exchange value explains financial assets Fisher full employment Hawtrey Hayek Hicks hoarding of cash ibid income inflation IS-LM model italics in original J.S. Mill Keynes Keynesian multiplier labor lend loanable funds loans long run Malthus Marshall's measure of value modern macroeconomics money cash money currency paper money paradox of thrift Pigou price level profits purchase quantity of money quantity theory rate of interest recognize restatement rise Robertson Say's Law short run Smith WN supply and demand supply of money theory of interest theory of value tion value of money wages Wicksell Wicksell's