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Capital and Employment: A Study of Keynes's Economics Hardcover – February 1, 1983

ISBN-13: 978-0124962507 ISBN-10: 0124962505

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Product Details

  • Hardcover: 217 pages
  • Publisher: Academic Pr (February 1983)
  • Language: English
  • ISBN-10: 0124962505
  • ISBN-13: 978-0124962507
  • Product Dimensions: 9.1 x 6.1 x 0.6 inches
  • Shipping Weight: 1.1 pounds
  • Average Customer Review: 2.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Best Sellers Rank: #5,346,262 in Books (See Top 100 in Books)

More About the Author

Murray Milgate is a Fellow and Director of Studies in Economics at Queens' College in the University of Cambridge. He is co-editor and co-creator of the original New Palgrave Dictionary of Economics (Macmillan). His books include Capital and Employment (Academic Press), Keynes's Economics and the Theory of Value and Distribution (Oxford University Press), Critical Issues in Social Thought (Academic Press), The World of Economics (Macmillan), Ricardian Politics (Princeton University Press), and After Adam Smith (Princeton University Press). He is an editor of the journal Contributions to Political Economy (Oxford). His most recent book is The Fall and Rise of Keynesian economics (Oxford University Press).

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Most Helpful Customer Reviews

Format: Hardcover
This book contains a series of chapters whose authors have no understanding of the fundamental foundation of Keynes's economics-the analysis contained in chapters 20 and 21 of the GT that demonstrated the existence of multiple possible ,expected unemployment,or underemployment ,equilibria.Keynes's theory of effective demand is completely worked out in detail in chapters 20 and 21 using the D-Z model.The crucial construction is Keynes's aggregate supply curve,a locus of D=Z outcomes,that shows that a capitalist economy can be in a position of Unemployment Equilibrium once expectations are brought into the picture.Only one of the equilibriums is a full employment equilibrium.All of the other equilibria are unemployment equilibriums.This fundamental result iis nowhere to be found in this book.

The fundamental theoretical point made by Keynes is not covered anywhere in the book.I do not recommend that this book be purchased or read.It will only lead to confusion and misunderstandings on the part of the reader.
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