Keynes's theory of wages and prices
id:
keynes-s-theory-of-wages-and-prices-194-8713252
title:
Keynes's theory of wages and prices
text:
Keynes's theory of wages and prices is contained in the three chapters 19-21 comprising Book V of The General Theory of Employment, Interest and Money. Keynes, contrary to the mainstream economists of his time, argued that capitalist economies were not inherently self-correcting. Wages and prices were "sticky", in that they were not flexible enough to respond efficiently to market demand. An economic depression for instance, would not necessarily set off a chain of events leading back to full em
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category slug:
encyclopedia
description:
Economic theory
original url:
https://en.wikipedia.org/wiki/Keynes%27s_theory_of_wages_and_prices
date created:
date modified:
2023-04-30T14:34:19Z
main entity:
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fields total:
13
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14