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 88
... investment : " An investment decision ... may sometimes involve a temporary demand for money before it is carried out ... Planned investment - i.e. investment ex ante- may have to secure its ' financial provision ' before the investment ...
... investment . As Lavoie ( 1987 , p . 69 ) contends , investment is partly financed by all three sources , although bank credit ( both medium and long - term financing ) remains at the core of the financing . As Seccareccia ( 1997 , p ...
... investment , Minsky argues the contrary . - Nowhere is the standard causality between saving and investment more obvious than in Minsky's American Economic Review article , where he argues that investment is primarily financed from an ...
Contents
Credit Money and Production | 8 |
Figures | 41 |
Clarifications | 42 |
Copyright | |
6 other sections not shown