Abstract:
This article makes a quick review of the arguments that link the theoretical body of General Theory to the apparatus of imperfect competition - both those that Keynes had a chance to respond to, and some that were recovered many years later. The aim here is to defend a crucial point: Keynes's results did not depend on "microfoundations", understood as the definition of particular market structures. It is intended to show that Keynes, when confronted with the suggestion to use an imperfect competition apparatus to base his results, strongly rejected this possibility, showing that the definition of a specific market structure is not necessary to support his arguments.
Keywords:
Keynes; imperfect competition; microfoundations