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The “Cambridge” critique of the quantity theory of money: A note on how quantitative easing vindicates it

Maria Cristina Marcuzzo ()

Journal of Post Keynesian Economics, 2017, vol. 40, issue 2, 260-271

Abstract: Through quantitative easing markets have been flooded with liquidity, but rather than inflation we have witnessed a general deflation because of the liquidity trap environment in which the banking system operated; this article revisits the arguments against the quantity theory in the “Cambridge” tradition of John Maynard Keynes, Richard Kahn, and Nicholas Kaldor, and defends their soundness and topicality.

Date: 2017
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DOI: 10.1080/01603477.2017.1286939

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Handle: RePEc:mes:postke:v:40:y:2017:i:2:p:260-271