Skip to main content

Keynesian Equilibrium and the Inducement to Invest

  • Chapter
The Notion of Equilibrium in the Keynesian Theory
  • 66 Accesses

Abstract

The present chapter comes out of the criticism of the Keynesian function of investment put forward by Asimakopulos in 1971 and taken up again in successive articles recently republished in Investment, Employment and Income Distribution.1

An earlier Italian version of this chapter was published in Rassegna Economica (Aprile-Giugno) 1990. The author is grateful to Prof. M. Sebastiani for his helpful comments on the previous version.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 84.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Asimakopulos, A. (1971) ‘The Determination of Investment in Keynes’s Model’, Canadian Journal of Economics, vol. 4 (August) pp. 382–8.

    Article  Google Scholar 

  • Asimakopulos, A. (1985) ‘Keynes and Sraffa: Visions and Perspectives’, Political Economy, vol. 1, no. 2, pp. 33–50.

    Google Scholar 

  • Asimakopulos, A. (1988) Investment, Employment and Income Distribution (Oxford: Polity Press).

    Google Scholar 

  • Caravale, G. (1987) ‘The Neo-Keynesian School: Some Internal Controversies’, Atlantic Economic Journal, vol. 15 (December) pp. 1–15.

    Article  Google Scholar 

  • Casarosa, C. (1978) ‘Un contributo all’analisi dei fondamenti microeconomici della teoria keynesiana della domanda effettiva’, Rivista di politica economica, vol. 68 (November) pp. 1371–409.

    Google Scholar 

  • Casarosa, C. (1981) ‘The Microfoundations of Keynes’s Aggregate Supply and Expected Demand Analysis’, The Economic Journal, vol. 91 (March) pp. 188–94.

    Article  Google Scholar 

  • Graziani, A., C. Imbriani and B. Jossa (a cura di) (1981) Studi di economia keynesiana (Napoli: Liguori).

    Google Scholar 

  • Kalecki, M. (1936) ‘Pare uwag o teorii keynesa’, Ekonomista, vol. 3; English translation in Targetti and Kinda-Hass (1982).

    Google Scholar 

  • Keynes, J. M. (1936) The General Theory of Employment, Interest and Money (London: Macmillan); in Keynes (1973) vol. VII.

    Google Scholar 

  • Keynes, J. M. (1937a) ‘The Theory of the Rate of Interest’, in A. D. Gayer (ed.), The Lessons of Monetary Experience: Essays in Honour of Irving Fisher, reprinted in Keynes (1973) vol. XIV.

    Google Scholar 

  • Keynes, J. M. (1937b) ‘The General Theory of Employment’, The Quarterly Journal of Economics (February); reprinted in Keynes (1973) vol. XIV.

    Google Scholar 

  • Keynes, J. M. (1973) The Collected Writings of J. M. Keynes, vol. VII, XIII and XIV (London: Macmillan).

    Google Scholar 

  • Kregel, J. A. (ed.) (1983) Distribution, Effective Demand and International Economic Relations (London: Macmillan).

    Google Scholar 

  • Nell, E. J. (1983) ‘Keynes After Sraffa: The Essential Properties of Keynes’s Theory of Interest and Money’, in Kregel (1983).

    Google Scholar 

  • Panico, C. (1981) ‘L’analisi deH’investimento nei lavori di Marshall e Keynes’, in Graziani, Imbriani and Jossa (1981).

    Google Scholar 

  • Pasinetti, L. (1974) ‘The Economics of Effective Demand’, in Pasinetti, L. Growth and Income Distribution (Cambridge: Cambridge University Press).

    Google Scholar 

  • Potestio, P. (1986) ‘Equilibrium and Employment in “The General Theory”’, Giornale degli Economisti e Annali di Economia, vol. 45 (Luglio-Agosto) pp. 363–88.

    Google Scholar 

  • Robinson, J. (1965) ‘Kalecki and Keynes’, in Collected Economic Papers, vol. III (Oxford: Basil Blackwell).

    Google Scholar 

  • Sebastiani, M. (1983) ‘Note in margine alla funzione degli investimenti in Keynes’, Moneta e Credito, vol. 36 (September) pp. 311–29.

    Google Scholar 

  • Targetti, F. and B. Kinda-Hass (1982) ‘Kalecki’s Review of Keynes’ General Theory’, Australian Economic Papers, vol. 21 (December) pp. 244–60.

    Article  Google Scholar 

  • Witte, J. G. (1963) ‘The Microfoundations of the Social Investment function’, Journal of Political Economy, vol. 71 (October) pp. 441–56.

    Article  Google Scholar 

Download references

Authors

Editor information

Editors and Affiliations

Copyright information

© 1992 Mario Sebastiani

About this chapter

Cite this chapter

Capponi, O. (1992). Keynesian Equilibrium and the Inducement to Invest. In: Sebastiani, M. (eds) The Notion of Equilibrium in the Keynesian Theory. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-22086-1_5

Download citation

Publish with us

Policies and ethics