Uncertainty and Quantity Adjustment in The General Theory
محفوظ في:
| المؤلف: | |
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| التنسيق: | artículo original |
| الحالة: | Versión publicada |
| تاريخ النشر: | 2009 |
| الوصف: | Robert Clower develops an interpretation of Keynes’ criticism of capitalist economy, by which uncertainty explains the systems’ inability to reach equilibrium in all markets, and specially in the labor market. Non-compliance with the main neoclassical assumption, perfect information, makes interest rate lose its regulating role and the system is unable to adjust itself via price movements. In presence of unemployment, individual revenue is no more the result of an optimizing process led by economic agents, and any external shock provokes a quantity adjustment called by Keynes “the multiplier effect”, which leaves the labor market without instruments to reach equi- librium. |
| البلد: | Portal de Revistas UCR |
| المؤسسة: | Universidad de Costa Rica |
| Repositorio: | Portal de Revistas UCR |
| اللغة: | Español |
| OAI Identifier: | oai:portal.revistas.ucr.ac.cr:article/9037 |
| الوصول للمادة أونلاين: | https://revistas.ucr.ac.cr/index.php/reconomicas/article/view/9037 |
| كلمة مفتاحية: | Tasa de interés Racionamiento Propensión a consumir Incertidumbre Información perfecta Equilibrio Keynes Desempleo Unemployment Interest rate Rationing Marginal propensity to consume Uncertainty Perfect information Equilibrium |