Summary Of "Brief Introduction To The Thought Of Keynes" By Dudley Dillard - UNIVERSITY SUMMARIES - E-book - ePub

According to Dillard, Keynes bases his theory on the following axes: it deals with all levels of employment, and it opposes the Classical Theory that only talks about full employment. In capitalism employment is fluctuating. Another general point is that inflation depends on the volume of effective demand; when demand is deficient, unemployment occurs and when demand is excessive, inflation occurs.
His theory refers to the volume changes of employment and production in the economic system as a whole, opposing the classics that speak of the singular company. We have summarized the essentials of Dudley Dillard's "The Economic Theory of Keynes."