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
Results 1-3 of 35
... HORIZONTALISTS There exists a great deal of misunderstanding regarding what horizontalism is really all about . This is based on both a misreading of the existing body of literature , and an attempt to reduce it to something which it is ...
... Horizontalist Response : Setting the Record Straight Despite many attempts by horizontalists to clarify their position regarding a number of issues which have arisen in recent years , some post - Keynesians still see horizontalism in ...
... horizontalism have already been noted by accommodationists , and taken into consideration . Nonetheless , they do not amount to a rejection of the horizontalist position , but rather have shown that horizontalism is sufficiently general ...
Contents
Credit Money and Production | 8 |
Figures | 41 |
Clarifications | 42 |
Copyright | |
6 other sections not shown