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Unpublished Paper
Clower on Effective Demand
Economics Department Working Paper Series (1996)
  • Peter Skott, University of Massachusetts - Amherst
  • Amitava Krishna Dutt
Abstract
This note examine's Clower's recent criticisms of Keynes' theory of effective demand and argues that Keynes added much to Marshallian theory when he extended to the aggregate level, that his theory does have implications for unemployment without requiring wage rigidity, that his theory does not depend on the non-clearance of the good market, and the main difference between Keynes and the Keynesians concerns the consequences of wage-price flexibility.
Disciplines
Publication Date
1996
Citation Information
Peter Skott and Amitava Krishna Dutt. "Clower on Effective Demand" Economics Department Working Paper Series (1996)
Available at: http://works.bepress.com/peter_skott/53/