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THE LOGICAL FOUNDATIONS OF KEYNES’S REAL-WORLD ANALYSIS

THE LOGICAL FOUNDATIONS OF KEYNES’S REAL-WORLD ANALYSIS This paper presents a review of the literature on Keynes’s revolutionary monetary theory, his understanding of the instability of investment decisions, and his deployment of exogenous long-term expectations. Thus, the overall results provide strong evidence for Keynes’s speculations about the weakness of monetary stabilizing measures, his theory of involuntary unemployment, and the importance of psychological propensities in analyzing the economic consequences of human behavior. These findings are consistent with a number of prior observations. JEL: E42, G11, J21, J54 Keywords: Keynes, monetary theory, unemployment, psychological factors http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economics, Management, and Financial Markets Addleton Academic Publishers

THE LOGICAL FOUNDATIONS OF KEYNES’S REAL-WORLD ANALYSIS

DRAGOS STUPARU
Economics, Management, and Financial Markets , Volume 5 (4): 220-225 – Jan 1, 2011
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Publisher
Addleton Academic Publishers
Copyright
© 2009 Addleton Academic Publishers
ISSN
1842-3191
eISSN
1938-212X
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Abstract

This paper presents a review of the literature on Keynes’s revolutionary monetary theory, his understanding of the instability of investment decisions, and his deployment of exogenous long-term expectations. Thus, the overall results provide strong evidence for Keynes’s speculations about the weakness of monetary stabilizing measures, his theory of involuntary unemployment, and the importance of psychological propensities in analyzing the economic consequences of human behavior. These findings are consistent with a number of prior observations. JEL: E42, G11, J21, J54 Keywords: Keynes, monetary theory, unemployment, psychological factors

Journal

Economics, Management, and Financial Markets – Addleton Academic Publishers

Published: Jan 1, 2011

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