An economy of industries and its aggregate representation

Authors

  • C. D’ADDA

DOI:

https://doi.org/10.13133/2037-3643/11112

Keywords:

Keynes, General theory, Marshall

Abstract

Commonly, macroeconomic texts seek to represent the functioning of the economy by the fiction of the one good system. Keynes’ General Theory of Employment, Interest and Money was, in fact, far more complex. Keynes theorised in an economy made up of industries in the Marshallian tradition. The author examines Keynesian assumptions that we may consider to be unrealistic, such as making employment homogeneous and his adoption of the Marshallian framework. This paper interprets Chapter 3 of the General Theory which, in the author's view, does no more than explore the limitations of Marshall in practice.


JEL: E12, B13, B22

Downloads

Published

2013-11-23

How to Cite

D’ADDA, C. (2013). An economy of industries and its aggregate representation. PSL Quarterly Review, 42(168). https://doi.org/10.13133/2037-3643/11112

Issue

Vol. 42 No. 168 (1989)

Section

Editorial

License

 
 
Licenza Creative Commons
 
All material in this website and every article published by the Review are licensed under a Creative Commons Attribution - Non commercial - No derivates 4.0 International license.
The authors who publish on this journal maintain all rights on their works without any restrictions.