Keynes and the monetary theory of production

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Chapter 4 in The Theoretical Roots of the Great Recession, 2017, pp 57-68 from Edward Elgar Publishing

Abstract: This chapter shows that in order to elaborate an alternative theoretical approach it is necessary to rediscover the lesson of a large group of heretical economists including Marx, Keynes, Schumpeter, Kalecki, Kaldor and Minsky. In particular, the chapter highlights Keynes’s and Schumpeter’s analysis. The contributions made by these two great economists led to the conclusion that money is an essential element for the explanation of the two fundamental characteristics of contemporary economies: 1) the process of economic development driven by innovations; and 2) economic crises.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (9)

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