Re: heterodoxers are crackpots AND logic

[John Vertegaal <vertegaa@xxxxxxxxx>]

Paul Davidson asks:

>What evidence do you have to indicate that Keynes's GT does not
>provide the basis for developing logically the conditions in which
>involuntary unemployment occurs.

The fact that Keynes exogenously determines capital values at any
particular time, indicates that he has nothing logically to say
about the fact that "play" money, siphoned off the income circuit
to bid up financial asset prices, is "the" cause of involuntary
unemployment.

John V