Paul Davidson - Keynes's Forgotten Lessons 1/4

The video features a discussion with Paul, a professor emeritus, about his book and Keynesian economics. It covers the principles of Keynesian economics, contrasting them with classical economics, and explores Keynes' theories on uncertainty and monetary theory. The conversation also delves into financial markets, discussing concepts like backwardation and contango, and emphasizes the need for a new approach in monetary and financial theory.

What is the title of the book written by Paul that is discussed in the video?

• The Path to Prosperity

• The Economic Revolution

• The Keynesian Approach

• The Cane Solution

Which of the following axioms did Keynes reject in his critique of classical economics?

• The axiom of supply

• The axiom of scarcity

• The axiom of parallels

• The axiom of demand

According to Keynes, what is the relationship between financial assets and real capital assets?

• They are identical

• They are not substitutable

• They are irrelevant

• They are interchangeable

What was the focus of Keynes' work 'A Treatise on Money'?

• Fiscal policy

• Monetary theory

• Labor economics

• Trade theory

Which financial market terms did Keynes use in his lectures that were unfamiliar to economists?

• Inflation and deflation

• Backwardation and contango

• Supply and demand

• Profit and loss