ECON 460 Lecture Notes - Lecture 2: Real Wages, Aggregate Supply, Aggregate Demand
20 Sep 2013
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Keynes: the general theory of employment, interest and money. People argued that civilization was at stake. Divergences among economists have destroyed the discipline"s practical influence. A monetary economy, we shall find, is essentially one in which changing views about the future are capable of influencing the quantity of employment and not merely its direction. A long struggle of escape from habitual modes of thought and expression (maybe not for us, as we live in the keynesian age. ) I must ask forgiveness, if in the pursuit of sharp distinction, my controversy is itself too keen - however he loves controversy. A monetary economy is essentially one in which changing views about the future are capable for influencing the quantity of employment and not merely its direction . Teaching classical special case misleading and disastrous. characteristics of the special case not those of the economic society which we actually live solecism (fn.
