ABSTRACT
The purpose of this paper is to assert and support analytically a proposition about the implicit method of Keynes’ General Theory (CW, VII). The proposition is that the device of the wage-unit is much more than a convenient way of measuring output without using 9HJA;=<=e9LGJL@=O9?= MFALAK>MF<9E=FL9DAF;J=9LAF?9L@=GJQG>GMLHML=EHDGQE=FL and prices which, although using the technique of static analysis, nevertheless belongs amongst examples of economic theorising in historical time. This fact distinguishes Keynes’ analysis sharply from neoclassical theories.
