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1 of 3 people found the following review helpful:
3.0 out of 5 stars
The author has no knowledge of the math model Keynes used in the GT,
By Michael Emmett Brady "mandmbrady" (Bellflower, California ,United States) - See all my reviews (VINE VOICE) (REAL NAME)
This review is from: The Revolution That Never Was: An Assessment of Keynesian Economics (Paperback)
Hutton is correct that there was no perceived,theoretical ,Keynesian revolution in economic theory that was understood by the economists of the 20th century.There was a revolution in economic public policy and in the terminology(introduced by Keynes in the General Theory,1936) used by the economics profession to discuss issues in macroeconomics.Unfortunately,Hutton is at a total loss to explain why this happened.The economics profession in the 1930's was ,in general,mathematically illiterate.No one could follow Keynes's mathematical modeling in chapters 20 and 21 of the GT.The same conclusion holds with respect to Pigou's magnificient 1933 book,The Theory of Unemployment.An assessment of the economics of J M Keynes will have to wait until some economist ,who knows how to integrate derivatives(take the anti derivative),sits down and carries out the necessary mathematical operations.Keynes' s math model will then be discovered and there will then be a revolution in economic theory.
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The Revolution That Never Was: An Assessment of Keynesian Economics by Will Hutton (Paperback - June 1986)
Used & New from: $25.82
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