The Own-Rates Framework as An Interpretation of The General Theory: A Suggestion for Complicating the Keynesian Theory of Money

摘要: It is my belief that the far-reaching and in some respects fundamental differences between conclusions of a monetary economy those more simplified real-exchange have been greatly undersestimated by exponents traditional economics; with result machinery thought which economics has equipped minds practitioners world affairs also economists themselves led practice to many erroneous policies. The idea it comparatively easy adapt hypothetical real wage mistake. extraordinarily difficult make adaption perhaps impossible without aid developed theory economics. (Keynes 1933 p. 410)