Re Steve K's [6794]: > All that Keynes was trying to do in his D1/D2 analysis was counter the > neoclassical view that if there are 2 markets and one goes down, the other > must go up--insufficient demand in one means excess demand in the other. > Keynes simply divided output into two markets and gave an explanation why > if one (consumption) went down, then the other (investment) was likely to > go down too--not up. A small point (perhaps): That sounds a lot more like Kalecki than Keynes. Kalecki, unlike Keynes, used reproduction schemes in many of his writings. In solidarity, Jerry
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