Some Microeconomics of Quantum Macroeconomics

Abstract

We explore the connections between the Treatise on Money by JM Keynes and the monetary macroeconomics of Bernard Schmitt. The link is shown to be the role of the bank. Secondly, we define a Keynes-Schmitt equilibrium without market clearing. We derive a comparative static result: an increase in the money wage raises the level of output. Finally, we provide a rendition of Keynes’ General Theory plan to determine the level of output as a whole.