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Simple Model Explains Complex Keynesian Concepts

Summary:
Lecture on Macroeconomics develops a simple model to illustrate how nominal wage bargain does not lead to determination of real wage — central Keynesian concept of Chapter 2 of General Theory. Many other key Keynesian concepts can be easily discussed within this model. For COURSE homepage see: sites.google.com/site/az4macro

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Lecture on Macroeconomics develops a simple model to illustrate how nominal wage bargain does not lead to determination of real wage — central Keynesian concept of Chapter 2 of General Theory. Many other key Keynesian concepts can be easily discussed within this model. For COURSE homepage see: sites.google.com/site/az4macro


Asad Zaman
Physician executive. All opinions are my personal. It is okay for me to be confused as I’m learning every day. Judge me and be confused as well.

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