Saturday, July 26, 2014

Sandwichman — A Neglected Point in Connection with Crises -- N. A. L. J. Johannsen

Must read for those interested in history of economics.
[Johannsen's] major work, A Neglected Point in the Theory of Crises, (1908) with its clear presentation of the multiplier and of the inability of unlimited saving to find investment has been hailed as one of the earliest successful formulations of what has become known as Keynesian economics.

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