“Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the level of unemployment was high. He believed that this was due to a particular example of market failure, developed in his concept of effective demand.”

—  Paul Ormerod , book The Death of Economics

Part II, Chapter 7, Attractor Points, p. 140
The Death of Economics (1994)

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Paul Ormerod 20
English economist

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