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Quote by Joan Robinson

“In some ways the most striking novelty in Keynesian doctrine was that (abstracting from effects on foreign trade) an all-round reduction in wages would not reduce unemployment and (introducing Kalecki’s elaboration) would actually be likely to increase it. [p. 129]”

Quote by Joan Robinson

Book:Economic philosophy
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Economic philosophy

Economic Philosophy delves into the foundational concepts that shape economic theory, including the works of key thinkers and the evolution of economic ideas throughout history. more

Author

Joan Robinson
Joan Robinson

Joan Robinson was a British economist renowned for her work on imperfect competition theory and labor theory of value. Her contributions have had a profound impact on the development of economics. more

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