Abstract
The mechanics of Keynes’s disequilibrium analysis were not highly visible. Rather, these were smuggled into his system by distinguishing between realized and notional quantities of saving and investment. Whereas realized or ex post saving and investment are continuously in equality (because an extant economic system can only be viewed in equilibrium), the values of notional or ex ante saving and investment are allowed to be unequal.
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© 1987 James E. Sawyer
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Sawyer, J.E. (1987). Why Keynesian Stabilization Policy Doesn’t Work?. In: Why Reaganomics and Keynesian Economics Failed. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-09497-4_4
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DOI: https://doi.org/10.1007/978-1-349-09497-4_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-09499-8
Online ISBN: 978-1-349-09497-4
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