[OPE-L:6796] Re: Keynes and Kalecki

From: Riccardo Bellofiore (bellofio@cisi.unito.it)
Date: Thu Mar 21 2002 - 10:27:47 EST

At 9:03 -0500 21-03-2002, gerald_a_levy wrote:
>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

probably what you says is true for Keynes 1936, less true for Keynes 
1930 (Treatise on Money). if you then put the General Theory in this 
wider context, what Steve says sounds ok.


Riccardo Bellofiore
Dipartimento di Scienze Economiche
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