Jump to ContentJump to Main Navigation
The Fall and Rise of Keynesian Economics$
Users without a subscription are not able to see the full content.

John Eatwell and Murray Milgate

Print publication date: 2011

Print ISBN-13: 9780199777693

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199777693.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 14 November 2019

Theories of Value, Output, and Employment

Theories of Value, Output, and Employment

Chapter:
(p.192) 10 Theories of Value, Output, and Employment
Source:
The Fall and Rise of Keynesian Economics
Author(s):

John Eatwell

Murray Milgate

Publisher:
Oxford University Press
DOI:10.1093/acprof:osobl/9780199777693.003.0010

This chapter examines alternative theories of the determination of the general level of output in light of theories of value with which they are associated. It interprets the Keynesian analysis within the framework of orthodox neoclassical general equilibrium theory and the relation of John Maynard Keynes’ principle of effective demand to the framework of an economic analysis dating back to the classical economists and Karl Marx. The chapter concludes with a discussion of the relationship between saving and investment, which it states provides the crucial link between a theory of output and theory of value.

Keywords:   Keynesian analysis, orthodox neoclassical general equilibrium theory, John Maynard Keynes, effective demand, classical economists, Karl Marx, theory of output, theory of value

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .