Nicholas Kaldor on endogenous money and increasing returns

Guglielmo Forges Davanzati ()
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Guglielmo Forges Davanzati: University of Salento (IT)

No PKWP1505, Working Papers from Post Keynesian Economics Society (PKES)

Abstract: Nicholas Kaldor’s contribution to economic theory covers a wide range of topics, elaborated in different historical contexts, such as theories of economic growth and the balance of payments, studies on interregional divergences and monetary theory. In most cases, historians of economic thought have devoted their attention to single aspects of his contributions. This paper aims at integrating Kaldor’s monetary theory and his view of the relevance of increasing returns. His theory of endogenous money is very similar to the view proposed in the contemporary monetary theory of production, and, in this respect, Kaldor’s contribution can certainly be considered an “antecedent” of this line of thought.

Keywords: Endogenous money; aggregate demand; labour productivity (search for similar items in EconPapers)
JEL-codes: B30 E40 O40 (search for similar items in EconPapers)
Pages: 30
Date: 2015-03
New Economics Papers: this item is included in nep-his, nep-hpe, nep-mac, nep-mon and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:pke:wpaper:pkwp1505

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