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The Making of Keynes' General Theory (Raffaele Mattioli Lectures) Hardcover – July 27, 1984


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Product Details

  • Series: Raffaele Mattioli Lectures
  • Hardcover: 334 pages
  • Publisher: Cambridge University Press; First Edition edition (July 27, 1984)
  • Language: English
  • ISBN-10: 052125373X
  • ISBN-13: 978-0521253734
  • Product Dimensions: 9 x 6 x 1.7 inches
  • Shipping Weight: 2.3 pounds
  • Average Customer Review: 1.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Best Sellers Rank: #3,781,159 in Books (See Top 100 in Books)

Editorial Reviews

Book Description

This 1984 book describes the development of thought, both of Keynes and others, culminating in the publication in 1936 of Keynes' General Theory. As one of Keynes' close collaborators - from December 1929, when the writing of the Treatise was nearing its completion - Richard Khan provides a uniquely insightful analysis of these events.

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2 of 7 people found the following review helpful By Michael Emmett Brady on March 25, 2005
Format: Hardcover
Kahn essentially presents his recollections of what it was that he thinks he did in "helping" Keynes to write the General Theory(GT).Kahn states in this book that the elasticities developed and used by Keynes in chapter 21 of the GT ,in presenting a generalized Quantity Theory of money,as opposed to the special quantity theory of money used by all classical and neoclassical economists, which assumes that the economy is operating on the boundaries of both the static(short run)and dynamic(long run)production possibilities curves(PPF's),are mere tautologies that can have absolutely no application ,either empirically or theoretically.This conclusion ties in nicely with Kahn's claims about Keynes" being a poor mathematician by 1927".Contrary to Kahn,the elasticity conditions worked out by Keynes on pp.304-306,especially on p.306,are all based on p,which Keynes defined in chapter 20 to be an expected price equal to marginal cost.It is not possible for these results to be tautologies because they provide conditions under which unemployment equilibria occur in the money market.Chapter 20 contained similar mathematical results specifying,in the form of elasticities ,the conditions under which unemployment equilibria would occur in the commodity and labor markets.Automatically,the bond market analysis is specified specifically by the elasticities conditions already specified for the labor,commodity,and money markets that Keynes worked out in chapters 20 and 21 for expected prices.A corresponding analysis for actual prices,in the form of an elasticity result, is given by Keynes on page 116,ft.2 of chapter 10 of the GT.Read more ›
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