How Long to Read Keynes’s General Theory Reconsidered in the Context of the Japanese Economy

How Long Does it Take to Read Keynes’s General Theory Reconsidered in the Context of the Japanese Economy?

It takes the average reader 1 hour and 41 minutes to read Keynes’s General Theory Reconsidered in the Context of the Japanese Economy by Masayuki Otaki

Assuming a reading speed of 250 words per minute. Learn more

Description

This book reconsiders Keynes’s The General Theory of Employment, Interest and Money and establishes a new interpretation. In contrast to the existing models, this book finds that the stickiness in the nominal wage is not crucial for his theory. Moreover, the author has also succeeds in capturing the concept of liquidity in a rigorous mathematical model. In conjunction with the development of the concept of liquidity, the separation of the decision between savings and capital investment, which plays a key role in the principle of effective demand and denies Say’s law, is exactly and originally formulated. The theory thus developed is applicable to elucidating some serious political economic causes that entrap the long-stagnated Japanese economy. For example, an analytical explanation is provided about why disinflation/deflation incessantly progresses despite the exorbitant expansionary monetary policy (ijigen kin-yuu seisaku) by the Bank of Japan. This phenomenon is an unsolvable question from the quantity-theoretic approaches (e.g., monetarism and new Keynesianism) which, although they differ in assumptions concerning the length of adjustment periods, commonly assume that the price level sooner or later rises in proportion to the quantity of money. Owing much to Keynes, the author’s approach considers that the price level is mainly governed by its marginal prime cost which is equal to the nominal wage as a first approximation. As such, the drastically sagging wages during the past 10 years provoke serious disinflation/deflation. It should be noted that this discussion never depends on the quantity of money.

How long is Keynes’s General Theory Reconsidered in the Context of the Japanese Economy?

Keynes’s General Theory Reconsidered in the Context of the Japanese Economy by Masayuki Otaki is 98 pages long, and a total of 25,284 words.

This makes it 33% the length of the average book. It also has 31% more words than the average book.

How Long Does it Take to Read Keynes’s General Theory Reconsidered in the Context of the Japanese Economy Aloud?

The average oral reading speed is 183 words per minute. This means it takes 2 hours and 18 minutes to read Keynes’s General Theory Reconsidered in the Context of the Japanese Economy aloud.

What Reading Level is Keynes’s General Theory Reconsidered in the Context of the Japanese Economy?

Keynes’s General Theory Reconsidered in the Context of the Japanese Economy is suitable for students ages 10 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Keynes’s General Theory Reconsidered in the Context of the Japanese Economy?

Keynes’s General Theory Reconsidered in the Context of the Japanese Economy by Masayuki Otaki is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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