[OPE-L:6795] Keynes and Kalecki

From: gerald_a_levy (gerald_a_levy@msn.com)
Date: Thu Mar 21 2002 - 09:03:43 EST

Re Steve K's [6794]:

> All that Keynes was trying to do in his D1/D2 analysis was counter the
> neoclassical view that if there are 2 markets and one goes down, the other
> must go up--insufficient demand in one means excess demand in the other.
> Keynes simply divided output into two markets and gave an explanation why
> if one (consumption) went down, then the other (investment) was likely to
> go down too--not up.

A small point (perhaps):   That sounds a lot more like Kalecki than Keynes.
Kalecki, unlike Keynes,  used reproduction schemes  in many of his

In solidarity, Jerry

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