Quarterly Journal of Austrian Economics
Author:
Robert F. Mulligan
Online Publish Date:
Volume 17, No. 3 (Fall 2014) ABSTRACT : Keynes’s theory of Aggregate Expenditures from the General Theory is examined and criticized. Keynes suggested numerous reasons why his marginal propensity to consume (MPC) might vary across individuals, over different time periods, and might be fundamentally heterogeneous in other respects, but assumed