He argued that Keynes ' General Theory was deficient in not specifying a link from `` real balances '' to current consumption and that the inclusion of such a `` wealth effect '' would make the economy more ` self correcting ' to drops in aggregate demand than Keynes predicted .
He also pointed out that it did n't include such a `` wealth effect '' would make the economy more ` self correcting ' to drops in aggregate demand than Keynes predicted .