(Mis)understanding Classical Economics
Alex M. Thomas
University of Sydney - School of Economics
Eostre, Vol. 2, pp. 6-7, 2011
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
Date posted: February 8, 2011
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