Keynes on the Marginal Efficiency of Capital and the Great Depression

Q2 Arts and Humanities

History of Economic Ideas Pub Date : 2008-01-01 DOI:10.1400/99214

Lefteris Tsoulfidis

引用次数: 2

Abstract

This paper argues that Keynes’s analysis of the marginal efficiency of capital is consistent with the principle of effective demand and is, in this sense, characteristically different from the related classical or neoclassical conceptualisations. Furthermore, the notion of the marginal efficiency of capital is used not only as an explanation of the short term fluctuations in the level of economic activity but also as an interpretation of more serious long term fluctuations such as that of the great depression. Finally, some of Keynes’s economic policy proposals are critically evaluated.

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凯恩斯论资本边际效率与大萧条

本文认为，凯恩斯对资本边际效率的分析与有效需求原则是一致的，在这个意义上，与相关的古典或新古典概念有明显的不同。此外，资本边际效率的概念不仅被用来解释经济活动水平的短期波动，而且还被用来解释大萧条等更严重的长期波动。最后，对凯恩斯的一些经济政策建议进行了批判性评估。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

History of Economic Ideas Arts and Humanities-History

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0.50

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0.00%

发文量

期刊介绍： History of Economic Ideas is a new international series of Quaderni di storia dell''economia politica, a journal founded in 1983 to promote collaboration between scholars who share an historical approach to the major issues, the various "revolutions" which have left their mark on economics and the spread of economic ideas beyond the narrow circle of specialists. History of Economic Ideas rejects the dichotomy between "analysis" and "culture": both aspects are of equal importance for a wider understanding of the subject. In a period such as our own, where paradigms which once seemed unshakeable are now being challenged, a multidisciplinary analysis of the historical development of economics might contribute to shedding light on the issues at the root of current debate. Besides essays and critical surveys, the journal includes archive material and reviews of new books on history of economics. History of Economic Ideas is double-blind peer reviewed.