| Titre | Say's law in Marx and Keynes | |
|---|---|---|
| Auteur | Duncan K. Foley | |
 |
Revue | Cahiers d'économie politique |
| Numéro | no 10-11, printemps-automne 1985 L'hétérodoxie dans la pensée économique | |
| Rubrique / Thématique | I. Les fondements analytiques d'une hétérodoxie économique C. Monnaie et circuit macroéconomique |
|
| Page | 183-194 | |
| Résumé anglais |
Marx's and Keynes' criticisms of Say's Law are examined critically. A simple model of the circuit of capital is used to show that both theorists base the possibility of inadequate aggregate demand on the existence of money and of finite and variable spending lags for monetary assets. Both Marx and Keynes go further to discuss the type of agent that will exhibit such variable spending lags. Marx argues that capitalist producers will react to liquidity constraints and sales constraints with variable spending lags. Keynes argues that speculation is the primary factor responsible. Source : Éditeur (via Persée) |
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| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/cep_0154-8344_1985_num_10_1_1006 |
