(Universidade Federal de Uberlândia, 2018-06) CARVALHO, André Cutrim; CARVALHO, David Ferreira
In General Theory, Keynes presented his understanding of the Principle of Effective
Demand. For this, he developed a new conceptual taxonomy, which brought difficul ties to the understanding of the new message contained in his Work, especially for
those economists trained in the tradition of (neo) classical orthodoxy. Therefore, the
fundamental objective of this paper is to present Keynes’s Principle of Effective De mand as a definitive counterattack to Say’s (neo) classical economists. The true proof
of the validity of the General Theory is not logic, not facts, but the usefulness of its
application in the real world in which we live.
