Money and Keynesian Uncertainty

B. Lucarelli

MPRA Paper from University Library of Munich, Germany

Abstract: Keynes’s theory of a monetary economy and his liquidity preference theory of investment will be examined in order to highlight the essential properties of money under the conditions of uncertainty, which inevitably prefigures the existence of involuntary unemployment and could – within a laissez faire, deregulated financial system – induce phases of endemic financial instability and crises.

Keywords: uncertainty; money; liquidity preference; crisis; investment (search for similar items in EconPapers)
JEL-codes: A10 A20 B10 B22 B31 B50 D53 (search for similar items in EconPapers)
Date: 2010-06-26, Revised 2011-02-10
New Economics Papers: this item is included in nep-hpe, nep-mac, nep-mon and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:28862

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