ABSTRACT
The ‘economics of Keynes,’ as distinct from ‘Keynesian economics,’ has passed into history.1 The Treatise on Money and The General Theory have become classics and share the common fate of being known largely through secondary sources. The 50 years that have elapsed since publication of The General Theory have witnessed a phenomenal amount of empirical and theoretical work built on Keynesian foundations. The main thrust of the empirical work has been to try to verify Keynes’s theoretical constructs.2 The most important of these early empirical findings concerned the consumption function.3
