Abstract:The paper emphasizes the true "generality" of the General Theory (GT) in the face of the dominant view, according to which Keynes's theory is captured by "Keynesian outcomes" in axiomatic general equilibrium models due to market imperfections. However, it argues that the advocates of generality must make a serious effort to re-conceptualize the GT in a very broad perspective. One must understand both its limitations and why the generality debate after the GT has failed to reconsider it in a proper way and what… Show more
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