Prolog to Keynes’s IS-LM, 1930 to 1932

Warren Young () and Edward W. Fuller ()
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Warren Young: Bar Ilan University

Chapter Chapter 2 in Reinterpreting Mr. Keynes, 2022, pp 7-32 from Springer

Abstract: Abstract This chapter covers Keynes’s work on the General Theory from 1930 to 1932. Keynes introduced some of the key ideas of the IS-LMIS-LM model in his 1930 work A Treatise on MoneyTreatise on Money (1930). The chapter includes archival material from the Keynes Papers. These documents show he was using formal saving, investmentInvestment, and money-demand functions to represent his developing theory by mid-1932. The chapter contains a detailed analysis of Keynes’s lectures. The chapter concludes that Keynes did not achieve the IS-LM model in 1932.

Date: 2022
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DOI: 10.1007/978-3-030-91342-7_2

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