Özet:

The rigidity of nominal wages is one of the long argued subjects among the economists both classical and contemporary. The views on this subject can be grouped in two categories. While Classical and New-Classical economists accept the nominal wage flexibility, Keynesian economists accept them as downwardly rigid. Hypotheses and assumptions in Economics carry great importance in Economics in order to establish a new theory. These hypothesis and assumptions have special importance for theories that reach a general equilibrium model. Therefore, these hypotheses of each theory are considered analyzable under the light of Friedman's methodology. The framework of this study is the Post-Keynesian concept of "rigidity of nominal wages due to the wage contracts". First four chapters are restricted to the general overview of the subject, and the subject has been evaluated within the assumption of nominal wage flexibility in fifth and last chapter

Anahtar Kelimeler: