Date of Award

8-1971

Document Type

Thesis

Degree Name

Doctor of Philosophy (PhD)

Department

Economics

Abstract

The purpose of this study is to examine critically both Keynesian and Swedish theories of economic fluctuations. It is a well known fact that in Sweden K. Wicksell was very skeptical about Say's law. With his skepticism, Wicksell occupied a position close to Keynes' General Theory. However, Wicksell could not present a convincing theory of the existence of general unemployment, because he did not observe the downward rigidity of wages or the Keynesian liquidity trap.

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