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. |
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... analysis . Second , it may be attributed to the fact that post- Keynesians try to follow Keynes too closely , especially the General Theory , or attempt to reconcile Keynes's finance motive with the general framework and analysis of the ...
... analysis and contributions to monetary theory are well within the tradition of Minsky and Kaldor . - Davidson's analysis attempts to reconcile the finance motive with the views contained within the General Theory . Davidson is careful ...
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. Davidson's subsequent analysis is also flawed , and he obtains conclusions which are contrary to the post - Keynesian theory of money endogeneity . Davidson's analysis begins ...
Contents
Credit Money and Production | 8 |
Figures | 41 |
Clarifications | 42 |
Copyright | |
6 other sections not shown