The Principle of Effective Demand Effective Demand is a Point!

This article builds a historical and theoretical journey in its proposal to question the derivation and therefore, the teaching of the IS-LM aggregate demand and supply model as well. An exhaustive presentation is made of each stage of definition, construction and formulation to form the IS-LM model...

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Main Author:	Moreno Rivas, Álvaro Martín
Format:	info:eu-repo/semantics/publishedVersion
Language:	spa
Published:	Universidad Antonio Nariño 2021
Subjects:	modelo IS-LM Keynes demanda agregada oferta IS-LM aggregate demand and supply model
Online Access:	http://revistas.uan.edu.co/index.php/papeles/article/view/584 http://repositorio.uan.edu.co/handle/123456789/5417
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author	Moreno Rivas, Álvaro Martín
author_facet	Moreno Rivas, Álvaro Martín
author_sort	Moreno Rivas, Álvaro Martín
collection	DSpace
description	This article builds a historical and theoretical journey in its proposal to question the derivation and therefore, the teaching of the IS-LM aggregate demand and supply model as well. An exhaustive presentation is made of each stage of definition, construction and formulation to form the IS-LM model (from Keynesian legacy in The General Theory of Employment, Interest and Money) to show how its construction suffers from a serious logical inconsistency. A reformulation is proposed in the construction and teaching of the model: “not only should the conventional model of aggregate supply and demand of textbooks be abandoned, but also the 45-degree Keynesian income-expense or cross scheme and of course the model IS-LM.”
format	info:eu-repo/semantics/publishedVersion
id	repositorio.uan.edu.co-123456789-5417
institution	Repositorio Digital UAN
language	spa
publishDate	2021
publisher	Universidad Antonio Nariño
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spelling	repositorio.uan.edu.co-123456789-54172024-10-09T23:28:42Z The Principle of Effective Demand Effective Demand is a Point! El principio de la demanda efectiva. ¡La demanda efectiva es un punto! Moreno Rivas, Álvaro Martín modelo IS-LM Keynes demanda agregada oferta IS-LM aggregate demand and supply model Keynes This article builds a historical and theoretical journey in its proposal to question the derivation and therefore, the teaching of the IS-LM aggregate demand and supply model as well. An exhaustive presentation is made of each stage of definition, construction and formulation to form the IS-LM model (from Keynesian legacy in The General Theory of Employment, Interest and Money) to show how its construction suffers from a serious logical inconsistency. A reformulation is proposed in the construction and teaching of the model: “not only should the conventional model of aggregate supply and demand of textbooks be abandoned, but also the 45-degree Keynesian income-expense or cross scheme and of course the model IS-LM.” Este artículo hace un recorrido histórico y teórico en su apuesta por cuestionar la derivación y por ende la enseñanza del modelo de oferta y demanda agregada IS-LM. Se hace una exposición exhaustiva de cada etapa de definición, construcción y formulación del modelo IS-LM (desde el legado keynesiano en La teoría general del empleo, el interés y el Dinero), hasta mostrar cómo su construcción adolece de una grave incoherencia lógica. Se propone una reformulación en la construcción y enseñanza del modelo: no sólo se debe abandonar el modelo convencional de oferta y demanda agregada de los libros de texto, sino también el esquema ingreso-gasto o cruz Keynesiana de 45 grados y por supuesto el modelo IS-LM. 2021-11-10T00:52:53Z 2021-11-10T00:52:53Z 2019-03-06 info:eu-repo/semantics/publishedVersion http://purl.org/coar/resource_type/c_6501 info:eu-repo/semantics/article http://purl.org/coar/version/c_970fb48d4fbd8a85 http://revistas.uan.edu.co/index.php/papeles/article/view/584 10.54104/papeles.v11n21.584 http://repositorio.uan.edu.co/handle/123456789/5417 spa http://revistas.uan.edu.co/index.php/papeles/article/view/584/500 Acceso abierto Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) https://creativecommons.org/licenses/by-nc-sa/4.0/ info:eu-repo/semantics/openAccess http://purl.org/coar/access_right/c_abf2 application/pdf Universidad Antonio Nariño 2346-0911 0123-0670 10.54104/papeles.v11n21 PAPELES; Vol. 11 No. 21 (2019); 55-65 PAPELES; Vol. 11 Núm. 21 (2019); 55-65
spellingShingle	modelo IS-LM Keynes demanda agregada oferta IS-LM aggregate demand and supply model Keynes Moreno Rivas, Álvaro Martín The Principle of Effective Demand Effective Demand is a Point!
title	The Principle of Effective Demand Effective Demand is a Point!
title_full	The Principle of Effective Demand Effective Demand is a Point!
title_fullStr	The Principle of Effective Demand Effective Demand is a Point!
title_full_unstemmed	The Principle of Effective Demand Effective Demand is a Point!
title_short	The Principle of Effective Demand Effective Demand is a Point!
title_sort	principle of effective demand effective demand is a point
topic	modelo IS-LM Keynes demanda agregada oferta IS-LM aggregate demand and supply model Keynes
url	http://revistas.uan.edu.co/index.php/papeles/article/view/584 http://repositorio.uan.edu.co/handle/123456789/5417
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