Abstract

LEON LEON, María Josefina. Hicks 's Keynesian Models: an Evaluation and Critique. Inv. Econ [online]. 1999, vol.59, n.229, pp.37-73. ISSN 0185-1667.

In the famous Hicks' paper "Mr. Keynes and the classics: a possible interpretation", are contents three models: the classic theory typical and the Keynesian model in their two versions, one of them is that we know as IS-LM model, as Hicks interpretation of Keynes.

In the present paper, we analyse with detail the Keynesian models of Hicks and explain the possible causes that conduce to Hicks consider to Keynes a special case of economy in depression, where the monetary policy is relatively impotent. Interpretation that contrast the affirmation of Keynes that a capitalist economy is, however, a monetary economy.

We give a series of theory reflexions that conduct us to infer that, in 1937, Hicks didn't a just interpretation of The General Theory of Keynes.

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