The General Theory Ch.14
on "loanable funds" models
“Hasn’t it been a while
Since I was a child
And the money that I owed
was only to the me I loved, so”
- Blanche Blanche Blanche, “Easy Street”
A frustrating part of last month’s chapter was the fact that Keynes lays out his theory of the rate of interest – including where it differs from prior theories – without having first explained those prior theories. I…
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