Summary Of "Keynes & The New Role Of The State" By Unknown Author: UNIVERSITY SUMMARIES

By MAURICIO ENRIQUE FAU

We have summarized the essential of this book by the author.

The most important trends in economic thought in the 19th and early 20th centuries are: On the one hand, those that are based on the labor theory of value, whose main exponent is Ricardo. The interest of this school is the study of exchange relations and income distribution. This line of thought is continued by Marx; Although the same part of the study of capitalist production as a stage of historical and transitory social development, instead of considering the categories of the capitalist economy, studied by Ricardo, as eternal and independent of history.

• Language: English
• Publisher: BOOKS AND SUMMARIES BY MAURICIO FAU
• Release date: Dec 14, 2021
• ISBN: 9798201280222

MAURICIO ENRIQUE FAU

Mauricio Enrique Fau nació en Buenos Aires en 1965. Se recibió de Licenciado en Ciencia Política en la Universidad de Buenos Aires. Cursó también Derecho en la UBA y Periodismo en la Universidad de Morón. Realizó estudios en FLACSO Argentina. Docente de la UBA y AUTOR DE MÁS DE 3.000 RESÚMENES de Psicología, Sociología, Ciencia Política, Antropología, Derecho, Historia, Epistemología, Lógica, Filosofía, Economía, Semiología, Educación y demás disciplinas de las Ciencias Sociales. Desde 2005 dirige La Bisagra Editorial, especializada en técnicas de estudio y materiales que facilitan la transición desde la escuela secundaria a la universidad. Por intermedio de La Bisagra publicó 38 libros. Participa en diversas ferias del libro, entre ellas la Feria Internacional del Libro de Buenos Aires y la FIL Guadalajara.

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Summary Of Keynes & The New Role Of The State By Unknown Author

UNIVERSITY SUMMARIES

MAURICIO ENRIQUE FAU

Published by BOOKS AND SUMMARIES BY MAURICIO FAU, 2021.

While every precaution has been taken in the preparation of this book, the publisher assumes no responsibility for errors or omissions, or for damages resulting from the use of the information contained herein.

SUMMARY OF KEYNES & THE NEW ROLE OF THE STATE BY UNKNOWN AUTHOR

First edition. December 14, 2021.

Copyright © 2021 MAURICIO ENRIQUE FAU.

ISBN: 979-8201280222

Written by MAURICIO ENRIQUE FAU.

Table of Contents

Title Page

Copyright Page

KEYNES & THE NEW ROLE OF THE STATE:

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KEYNES & THE NEW ROLE OF THE STATE:

INTRODUCTION:

The most important trends in economic thought in the 19th and early 20th centuries are: On the one hand, those that are based on the labor theory of value, whose main exponent is Ricardo. The interest of this school is the study of exchange relations and income distribution. This line of thought is continued by Marx; Although the same part of the study of capitalist production as a stage of historical and transitory social development, instead of considering the categories of the capitalist economy, studied by Ricardo, as eternal and independent of history.

The other school is the so-called neoclassical, marginalist, or harmonicist. This prevailed in economic thought well into the nineteenth century.

Thinkers of this current value the automatic mechanisms of the market, holding absolute confidence in the ability of a market economy to ensure growth at the expense of an unfair distribution of income.

This current focused its attention on the subjective behavior of economic agents in the market. According to marginalist authors, it is useless to seek objective measurements (which is what Ricardians and Marxists do, based on their labor theory of value) with respect to the value of commodities; holding that the same price mechanism through the free play of supply and demand, would be resolved in the behavior of each agent (people or companies) in the market, in their attempt to (using marginalist terminology) maximize their marginal utility .

For the marginalists, capitalism is sustained on the assumption of the existence of a potential dynamic general equilibrium, based on the free intervention of economic actors in the market.

P = C+I  y  Y = C+S 

So, the object of study of the economist is the behavior of organizations or people in the market (this type of study is microeconomics).

According to the marginalists, there would be no limits to the expansion of wealth. The whole economy would be sustained in Say's law: every supply creates its demand; thus denying the economic possibility of overproduction (excess of unsold products).

The global equilibrium of the economy could be summarized in the Product and Income accounts.

The real flow of supply of services and