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The Keynesian Approach

  • J. Harvey
  • M. Johnson

Abstract

Keynes’ analysis was greatly influenced by the inter-war depression, with its unprecedented mass unemployment. As we have seen, the Classical theory could offer no solution except that of cutting wage-rates. How could the economic system (supposedly designed to alleviate the problem of scarcity) result in such poverty and misery?

Keywords

Aggregate Demand Full Employment Closed Economy Investment Expenditure Effective Demand 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© J. Harvey and Janet Johnson 1973

Authors and Affiliations

  • J. Harvey
    • 1
  • M. Johnson
    • 2
  1. 1.University of ReadingUK
  2. 2.Hatfield PolytechnicUK

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