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Marx, Keynes and the economics of the 99% John Weeks Professor Emeritus SOAS, University of London http://jweeks.org

Marx, Keynes and the economics of the 99% John Weeks Professor Emeritus SOAS, University of London http://jweeks.org. Forthcoming book (October 2013) Economics of the 1%: How mainstream economics serves the rich, obscures reality and distorts policy Anthem Press www.anthempress.com

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Marx, Keynes and the economics of the 99% John Weeks Professor Emeritus SOAS, University of London http://jweeks.org

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  1. Marx, Keynes and the economics of the 99% John Weeks Professor Emeritus SOAS, University of London http://jweeks.org

  2. Forthcoming book (October 2013) Economics of the 1%: How mainstream economics serves the rich, obscures reality and distorts policy Anthem Press www.anthempress.com (£13.95/US$ 18.95)

  3. For the technical version of today's presentation, see John Weeks, The Irreconcilable Inconsistencies of Neoclassical Economics: false paradigm (Routledge 2012) and "Effectiveness of Monetary Policy Reconsidered," Review of Political Economy(Issue 1, 2013)

  4. Lionel Robbins specifies the problem: Economics is the science which studies human behaviour as a relationship between given ends and scarce means which have alternative uses. (Robbins, An Essay on the Nature and Significance of Economic Science (London: Macmillan 1932), p16)

  5. J M Keynes specifies the problem When I began to write my Treatise on Money I was still moving along the traditional lines…I had made some progress towards pushing monetary theory back to becoming a theory of output as a whole. But my lack of emancipation from preconceived ideas showed itself in what now seems to me to be the outstanding fault of the theoretical parts of that work, that I failed to deal thoroughly with the effects of changes in the level of output. (Keynes, The General Theory, 1936, vi-vii, emphasis added)

  6. What is the difference & why does it matter?

  7. (It is for real, go to www.astrology.org.uk) versus

  8. (also for real,www.alchemystudy.com) Versus

  9. Economics Versus "Neoclassical economics" [aka Fakeconomics]

  10. What is economics? I propose: The study of the mobilization of resources to achieve full employment and maximum feasible output, in order to increase the general welfare.

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