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| Author: | Marris, R. |
| Title: | Keynesian economics in the twenty-first century |
| Journal: | Economic Affairs
1999 : MAR, VOL 19:1, p. 24 - 29 |
| Index terms: | Macroeconomic models Keynesian school |
| Language: | eng |
| Abstract: | The Keynesian theory has an Achilles heel in the goods market, as it assumes perfect competition. If this assumption of perfect competition in the goods market is replaced by imperfect competition or oligopoly, the Keynesian theory becomes totally relevant to the 21st century. |
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