A fecund debate is taking place at Mike Norman Economics, 119 comments in less than two days, about a post on Ramanan’s blog criticising the new and extended definition and justification of Steve Keen’s formula for aggregate demand i.e. AD=Income + delta Debt. The number of comments indicates that either something important has been discovered or a major fallacy is out there.Decisions, Decisions, Decisions
Ramanan Lyer on the Keen Change in AD Function – What Lies Between Identities
Andrew Lainton
