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 78
... saving is unrealistic . Generally , households will save a portion of their income . While saving generally represents a drain on firms ' proceeds and profits , it is important to clearly differentiate between the different types of ...
... saving " in the following passages as " financial saving , ” Keynes ( xiv , p . 221 ) writes in his December 1937 article that " consumption is just as effective in liquidating the short - term finance as saving is . There is no ...
... saving and investment more obvious than in Minsky's American Economic Review article , where he argues that investment is primarily financed from an existing , exogenously- determined , supply of ex ante saving . This is made evident in ...
Contents
Credit Money and Production | 8 |
Figures | 41 |
Clarifications | 42 |
Copyright | |
6 other sections not shown