Theories of Interest: Keynes Versus Marshall

John Hicks

in A Market Theory of Money

Published in print August 1989 | ISBN: 9780198287247
Published online November 2003 | e-ISBN: 9780191596407 | DOI:
 Theories of Interest: Keynes Versus Marshall

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This chapter considers Marshall as the leading opponent of Keynes. It argues that when Keynes spoke of ‘classical’ theory it was Marshall's he had in mind. He had learned and then taught in the school of economics that Marshall had founded at Cambridge; it was the doctrine that he himself had been teaching that he was now deliberately casting off.

Keywords: Marshall; Keynes; economic theory; monetary theory

Chapter.  3825 words. 

Subjects: Macroeconomics and Monetary Economics

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