Quotessence
Home / Quotes / Quote / Image

Quote image editor Joan Robinson

Back to previous page

“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]” — Joan Robinson

Quote 1080 x 1350 Instagram portrait
More
Platforms
Pure ratios
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]
— Joan Robinson