What Attracted Keynes to Malthus’s High Price of Provisions?
Author(s) -
Nobuhiko Nakazawa
Publication year - 2017
Publication title -
erasmus journal for philosophy and economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.121
H-Index - 9
ISSN - 1876-9098
DOI - 10.23941/ejpe.v10i2.247
Subject(s) - parallels , notice , economics , reading (process) , neoclassical economics , keynesian economics , effective demand , economic thought , positive economics , law , political science , operations management
In his biographical essay on Malthus, Keynes highly praised Malthus’s early short pamphlet, High Price of Provisions. Yet there have been remarkably few commentators who have paid attention to High Price of Provisions; and fewer have taken notice of two underlying but importantly related problems hidden in Keynes’s analysis of this pamphlet. This paper attempts to resolve these problems by providing a more comprehensive explanation for Keynes’s discussion of High Price of Provisions than Keynes himself. Not only does this paper reinforce the idea that Keynes discovered the concept of effective demand by reading Malthus, but it further proposes that Keynes would have seen other parallels between himself and Malthus, including their methods of approaching practical economic problems.
Accelerating Research
Robert Robinson Avenue,
Oxford Science Park, Oxford
OX4 4GP, United Kingdom
Address
John Eccles HouseRobert Robinson Avenue,
Oxford Science Park, Oxford
OX4 4GP, United Kingdom