Asad Zaman — Unproblematic Model Explains Complex Keynesian Concepts

Not MMT, simply y'all may notice this of interest.

In the context of the radical Macroeconomics Course I am teaching, I was really unhappy alongside the cloth available which tries to explicate what Keynes is saying. In attempting to explicate it better, I constructed an extremely elementary model of a primitive agricultural economy. This model has a lot of pedagogical value inwards that it tin demonstrate many complex phenomenon inwards really elementary terms. In particular, Keynesian, Marxists, Classical as well as Neo-Classical concepts tin endure illustrated as well as compared inside our model. We volition exhibit the failure of all neoclassical concepts of labor, Supply as well as Demand, equality of marginal product, value theory — the whole she-bang — inwards an intuitive as well as slow to sympathise plausible model of a elementary economy.

WEA Pedagogy Blog
Simple Model Explains Complex Keynesian Concepts
Asad Zaman | Vice Chancellor, Islamic Republic of Pakistan Institute of Development Economics as well as quondam Director General, International Institute of Islamic Economics, International Islamic University Islamabad