Economics 5688, Winter 2008, Mathew Forstater

Colloquium On Political Economy

Patty-Cantillon "Surplus Approach" Model

Classical Political Economy and Neoclassical Economics

Say's Law, Classical and Neoclassical Versions

The Neoclassical Theory of Output

Two-sector Model Diagram

Alternative Effective Demand and Employment Two-Sector Model

Alternative Multiplier Model: The Simple Theory of Effective Demand

Conventional and Alternative Model Diagrams

Endogenous Money in the Alternative Multiplier Framework

Alternative Simple Effective Demand Model: Taxing Wages and Public/Private Balances

Quotes: Classical Political Economists