It will be a part of the purpose of this paper to show that Keynesian economics treats a closed economy in a static condition while American and British society in actuality exist in open economies in a dynamic condition. In scope this paper is limited to an appraisal of the first of the main concepts of John Maynard Keynes' General Theory. That is, this paper will be concerned only with the "Theory of the Propensity to Consume" and its ramifications.
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It will be a part of the purpose of this paper to show that Keynesian economics treats a closed economy in a static condition while American and British society in actuality exist in open economies in a dynamic condition. In scope this paper is limited to an appraisal of the first of the main concepts of John Maynard Keynes' General Theory. That is, this paper will be concerned only with the "Theory of the Propensity to Consume" and its ramifications.
This thesis is part of the following collection of related materials.
UNT Theses and Dissertations
Theses and dissertations represent a wealth of scholarly and artistic content created by masters and doctoral students in the degree-seeking process. Some ETDs in this collection are restricted to use by the UNT community.