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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... endogenous money actually means , and as to how money becomes endogenous . Is money created or is it simply introduced into the overall framework through some portfolio and asset decisions of households and firms ( banks ) ? In the next ...
... endogenous money have arisen . A necessary question is where does this confusion arise ? The objective of this chapter is precisely to examine in greater detail the origins of the post - Keynesian theory of endogenous money . In doing ...
... Endogenous " Money Revisited : Davidson and Rousseas versus Robinson and Kahn Post - Keynesians have often made the ... endogenous money . As in the case of Minsky , Kaldor and Tobin , it will be concluded that neither Davidson's or ...
Contents
Credit Money and Production | 8 |
Figures | 41 |
Clarifications | 42 |
Copyright | |
6 other sections not shown