Don Patinkin challenges traditional views on unemployment in Keynesian theory.
The article explains why Don Patinkin saw the Keynesian theory in a new way. He thought that the idea of wages being stuck in place didn't show the real problem of people not being able to find work. So, he decided to look at things differently. He looked at what other experts said about Keynesian theory, like Lange, Klein, and Modigliani. And after all that, he decided that the theory needed a fresh perspective.