Credit, Money, and Production: An Alternative Post-Keynesian ApproachThis thought-provoking book clearly and systematically analyses the post-Keynesian approaches to endogenous money and, in doing so, provides an informed critique of the development of post-Keynesian economics. Using a horizontalist perspective the author offers an historical overview of the post-Keynesian and circuit approaches to endogenous money, starting with a comprehensive survey of the Franco-Italian circuit school. He argues that rather than emphasizing the early writings of Minsky, Kaldor and Tobin in the 1950s and of Davidson and Rousseas later, post-Keynesians ought to have followed the writings of Joan Robinson and Richard Kahn who offered far better theories of credit-money. The author then compares the current post-Keynesian structuralist theory with New Keynesian monetary thought. In conclusion, he develops an innovative theory of banking based on Keynesian uncertainty and consistent with the horizontalist tradition taking into account credit restraints, crunches and creditworthiness. This book will be illuminating to scholars of post-Keynesian economics, macroeconomics, and history of economic thought. |
From inside the book
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An Alternative Post-Keynesian Approach Louis-Philippe Rochon. Contents List of Figures Preface Acknowledgements Introduction vi vii ix 1 1. The Franco - Italian Circuitists ... Figures 1.1 The circulation of money in a production economy.
... Figure 1.1 : The circulation of money in a production economy Deficit GOVERNMENT taxes 0 interest payment on debt Rentiers repayment of loans WN , bank reflux Investment - Good Sector Jirm efflux supply of credit firm reflux creation of ...
... Figure 5.1 . Moreover , it is better to refer to the demand for credit and the supply of credit , as opposed to the demand and supply of money . The horizontal representation is perhaps best associated with Kaldor ( 1982 , p . 24 ) ...
Contents
Credit Money and Production | 8 |
Figures | 41 |
Clarifications | 42 |
Copyright | |
6 other sections not shown