(Mis)understanding Classical Economics

Thomas, Alex

Abstract

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(Mis)understanding Classical Economics

Alex M. Thomas

University of Sydney - School of Economics

2011

Eostre, Vol. 2, pp. 6-7, 2011

Abstract:
In 1936, Keynes published The General Theory of Employment, Interest and Money, one of the most influential books in economics of the twentieth century. With this publication, Keynes has confused and will continue to confuse generations of economists as to what classical economics means. This short essay argues that the 'classical economists' whom Keynes referred to in The General Theory were actually those economists who primarily employed 'marginal methods' in economics.

Number of Pages in PDF File: 5

Keywords: Keynes, Classical economics, Ricardo

JEL Classification: B12, B13, B22, E12

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Date posted: February 8, 2011

Suggested Citation

Thomas, Alex M., (Mis)understanding Classical Economics (2011). Eostre, Vol. 2, pp. 6-7, 2011. Available at SSRN: http://ssrn.com/abstract=1756923

Contact Information

Alex M. Thomas (Contact Author)

University of Sydney - School of Economics ( email )

Rm 370 Merewether (H04)
Sydney, NSW 2006 2006
Australia