Quarterly Journal of Austrian Economics
The Marginal Efficiency of Capital: Reply to Fuller’s Rejoinder
Volume 18, Number 1 (Spring 2105)
ABSTRACT: This is a brief reply to “The Marginal Efficiency of Capital: Rejoinder.” I explain that I never intended to defend Keynes against Fuller’s (2013) criticism. Rather, I intended to highlight that Keynes’s conclusions rest on a key shortcoming in Keynes’s theory: the assumption of sticky factor prices.