Aggregate Effective Demand

descriptionPublicationkeyboard_double_arrow_right Part of book or chapter of book , Other literature type 01 Jan 2009 English Publisher:Palgrave Macmillan UK

Authors: Brendan Sheehan;

doi: 10.1057/9780230232853_3

Aggregate Effective Demand

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Abstract

In the General Theory Keynes finally breaks with Say’s law.1 In its place he outlines a theory of what determines aggregate income, output and employment in which the central unifying concept of aggregate effective demand plays the leading role. Effective demand is the single most important idea in Keynes’ General Theory model. It is essential that the reader has a proper appreciation of this category of analysis.2

Related Organizations

Leeds Beckett University
United Kingdom

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