Bill- Yes, the difference is that Keynes did not have AS and AD as a
"function" of the "price level."

For some of the best rips of the conventional AS/AD see John Weeks A
CRITIQUE OF NEOCLASSICAL MACROECONOMICS and Edward Nell in FREE MARKET
MARKET CONSERVATISM and TRANSFORMATIONAL GROWTH AND EFFECTIVE DEMAND.

ISLM is bad enough, AS/AD is beyond bizarre.  But there have been some
defenses by "non-orthodox" in recent Eastern Economic Journals (Skott,
Dutt?).

Mat Forstater



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