(Mis)understanding Classical Economics

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

5 Pages Posted: 8 Feb 2011  

Alex M. Thomas

The University of Sydney - School of Economics

Date Written: 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.

Keywords: Keynes, Classical economics, Ricardo

JEL Classification: B12, B13, B22, E12

Suggested Citation

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

Alex M. Thomas (Contact Author)

The University of Sydney - School of Economics ( email )

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

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