Keynes distinguishes three concepts: voluntary, frictional and (Keynesian) involuntary unemployment. Frictional unemployment is a Classical form of involuntary unemployment (not voluntary, as Lucas suggests), and reflects the Marshallian, rather than Walrasian, treatment of time and equilibrium....

The loanable funds controversy cannot be settled without prior agreement on the meanings of income and equilibrium. The essential claim of loanable funds theory is that disequilibrium in the goods market affects the rate of interest. This paper introduces financial accounting concepts and a new...

In a recent contribution to this journal, C. Sardoni takes issue with the identification by Trigg, in a 2006 publication, of a role for the Keynesian investment multiplier in Marx's schemes of reproduction. Indirectly, Sardoni also expresses his disagreement with Hartwig (by attributing one of...