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Cambridge and Its Revolution: A Perspective on the Multiplier and Effective Demand *
Author(s) -
CAIN NEVILLE
Publication year - 1979
Publication title -
economic record
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.365
H-Index - 42
eISSN - 1475-4932
pISSN - 0013-0249
DOI - 10.1111/j.1475-4932.1979.tb02210.x
Subject(s) - economics , scholarship , effective demand , neoclassical economics , wonder , multiplier (economics) , perspective (graphical) , investment (military) , keynesian economics , consumption (sociology) , positive economics , sociology , philosophy , computer science , social science , epistemology , law , economic growth , political science , artificial intelligence , politics
The tendency of various scholarship has been so to interpret Kahn's multiplier article as to invite wonder that Keynes did not break through earlier to his consumption function and effective demand. And while Keynes was independently along this road it is difficult to believe that Jens Warming, deploying a personal propensity to save within the investment multiplier mechanism, did not help him to arrive. Ironically Kahn, who resisted Warming's innovation, did incidentally point the way to a formulation of the effective demand problem which was alternative to that of Keynes.