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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... post - Keynesian theory is rooted perhaps in the fact that post - Keynesian theory of money emerged out of theoretical debates between Friedman and post - Keynesians suggested in the first chapter . Post - Keynesians except perhaps for ...
... theory poses a number of serious problems , both in terms of policy and in ... Keynesian theory runs the risk of becoming a " special " case of ... KEYNESIANS AND ORTHODOX THOUGHT The starting point of Post - Keynesians and Orthodoxy 203.
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. It has been suggested now by many post - Keynesians ... theory to construct a post - Keynesian theory of banking , this must only be done as long as the elements are understood ...
Contents
Credit Money and Production | 8 |
Figures | 41 |
Clarifications | 42 |
Copyright | |
6 other sections not shown