From money illusion to money disillusion

Authors

  • J. ASCHHEIM

DOI:

https://doi.org/10.13133/2037-3643/11508

Keywords:

Money illusion, unemployment, Keynes, money disillusion, General Theory

Abstract

Even after several decades since its publication, Keynes’ General Theory continues to provoke debate and controversy regarding the interpretation of some essential issues. The present work examines the relationship of money illusion to involuntary unemployment within the framework of the modelling methodology of the General Theory. The author argues that Keynes’s rational for distinguishing between involuntary and voluntary unemployment is consistent with the absence of money illusion. Such an absence implies the notion of money disillusion.

 

JEL: E12, E24, E31

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Published

2014-01-04

How to Cite

ASCHHEIM, J. (2014). From money illusion to money disillusion. PSL Quarterly Review, 30(123). https://doi.org/10.13133/2037-3643/11508

Issue

Vol. 30 No. 123 (1977)

Section

Editorial

License

 
 
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