04423nam 2200649Ia 450 991045121320332120200520144314.01-299-28473-61-134-94952-91-282-37311-097866123731140-203-01154-6(CKB)1000000000252363(EBL)169060(OCoLC)437077926(SSID)ssj0000363891(PQKBManifestationID)11267968(PQKBTitleCode)TC0000363891(PQKBWorkID)10394582(PQKB)10612625(MiAaPQ)EBC169060(Au-PeEL)EBL169060(CaPaEBR)ebr10060733(CaONFJC)MIL237311(EXLCZ)99100000000025236319900322d1990 uy 0engurcn|||||||||txtccrOn interpreting Keynes[electronic resource] a study in reconciliation /Bruce LittleboyLondon Routledge19901 online resource (353 p.)Includes indexes.0-415-04475-8 Includes bibliographical references.Front Cover; On Interpreting Keynes; Copyright Page; Contents; Preface; Acknowledgements; Part one; 1 Introduction; The inherited literature; Why historians of thought disagree: psychological and methodological factors; Vision and the process of interpretation; Fundamentalism and reductionism: similarities and differences; The role of uncertainty and the significance of conventions; Part two; 2 Leijonhufvud on unemployment and effective demand; Leijonhufvud's interpretation: a preliminary overview; The response to Leijonhufvud's challenge; Leijonhufvud on unemploymentLeijonhufvud's evidence from Keynes Some objections to Leijonhufvud's portrayal of expectations; The behaviour of producers; The real wage and the marginal product of labour; Instantaneous versus sticky wage adjustment; 3 Involuntary unemployment in the history of economic thought; Keynes and Mill; The role of money; Keynes and Pigou; Money illusion; Money illusion in Keynes; Money illusion in classical economics; Money illusion and the post-Keynesians; Some modern views on involuntary unemployment; 4 Effective demand: a theoretical and historical perspective; Grossman's critiqueMonetary versus barter economies Some theoretical developments; Liquidity constraints: Clower and Leijonhufvud versus Davidson et al.; Concluding remarks; Part three; 5IS-LM and the interest-rate dynamics; Introduction; Some examples; The 'Finance-your-losses' approach; The role of IS-LM; 6On bootstraps and traps; Introduction; Conventions and interest rates; Theoretical foundations of the trap; The liquidity trap in Keynes; Some concluding remarks on the trap; 7 Expenditure and the interest rate; An overview; The aggregation question: evaluating LeijonhufvudInvestment and the rate of interest The stability of the MEI curve; Keynes on monetary policy; Keynes versus Robertson on monetary policy; 8 Recovery in the long run?; Long-run recovery in theory and in practice; Wealth effects; Part four; 9 Conventions; Overview; The wealth holders; The investors; The speculators; Some remarks on cognitive dissonance; The producers; The consumer; The labourer; Conventional zones; Perspectives on conventional conduct; A Hume connection?; Fundamentalism in perspective; Fundamentalism and rational expectations; A concluding remark; References; Author indexSubject indexThere is discontent with how the textbooks have come to reinterpret Keynes but there is little communication between the most prominent schools of criticism. This book argues that this lack of dialogue is mistaken and damaging. A synthesis is possible as many of the arguments between them can be traced to simple misunderstandings and differences of emphasis.Keynesian economicsSchools of economicsElectronic books.Keynesian economics.Schools of economics.330.15/6Littleboy Bruce1956-125875MiAaPQMiAaPQMiAaPQBOOK9910451213203321On Interpreting Keynes455964UNINA