Please write this note in your own words, please no citation. Just find information from the book and transfer what you get to your own words.
Reading guide Keynes p. 408-415
Capitalist Depression
o Wage and marginal productivity?
o Keynes's two departures
o Consumption function?
o Explain what determine interest rate
- Demand and supply of money?
- Liquidity preferences?
o Figure 15.3 depicts depression?
- What are the solutions?
o Figure 15.4, 15.5 depict depression too?
- What are the differences to figure 15.3?
- What is the solution?
o Role of government?
Textbook:- History of Economic Thought A CRITICAL PERSPECTIVE THIRD EDITION by E.K. Hunt and Mark Lautzenheiser