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From equilibrium to disequilibrium: the genesis of Don Patinkin's interpretation of the Keynesian theory
Ist Teil von
The European journal of the history of economic thought, 2002-06, Vol.9 (2), p.205-225
Ort / Verlag
Taylor & Francis Group
Erscheinungsjahr
2002
Link zum Volltext
Quelle
EBSCOhost Business Source Ultimate
Beschreibungen/Notizen
This paper explains the reasons that led Don Patinkin to interpret the Keynesian theory in a disequilibrium perspective. We claim that the author adopted this position because he believed that the assumption of wage rigidity misrepresented the concept of involuntary unemployment and that, consequently, it had to be rejected. It is shown that this conclusion resulted from the confrontation of Patinkin, during the writing of his Ph.D. thesis, with the interpretations of the Keynesian theory argued respectively by Lange, Klein and Modigliani.