Post-Keynesian Monetary Economics

Allin Cottrell

Cambridge Journal of Economics, 1994, vol. 18, issue 6, 587-605

Abstract: This article surveys the main themes of post-Keynesian monetary economics (where the term 'post-Keynesian' refers to the school of that name rather than having a purely chronological meaning). The role of monetary theory in justifying the idea of unemployment equilibrium provides one main focus. The meaning of the phrase 'money matters' in the post-Keynesian context is examined, as is the conception of monetary equilibrium. The theory of endogenous money is outlined and its compatibility with Keynes's liquidity preference theory of interest is discussed. Strengths and problems in the post-Keynesian tradition are identified. (c) 1994 Academic Press, Inc. Copyright 1994 by Oxford University Press.

Date: 1994
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