Some More Keynesian Economics

M. L. Burstein

Chapter 3 in Studies in Banking Theory, Financial History and Vertical Control, 1988, pp 23-40 from Palgrave Macmillan

Abstract: Abstract The General Theory maintains that capitalist economies under then orthodox régimes of economic policy would tend to experience stagnation and large-scale unemployment. Laisser faire economies could not sustain high enough rates of steady growth to absorb growing working populations at rising real incomes. The Remedy was increased government spending accompanied by budget deficits and cheap money. Feasibly cheap money was insufficient for ‘full employment’. I draw these conclusions from Vols 13 and 14 of The Collected Writings of John Maynard Keynes.1

Keywords: General Theory; Monetary Policy; Trade Cycle; Price Level; Consumption Function (search for similar items in EconPapers)
Date: 1988
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DOI: 10.1007/978-1-349-09978-8_3

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