Irving Fisher, Great-Grandparent of the General Theory: Money, Rate of Return over Cost and Efficiency of Capital

Jan Kregel

Cahiers d'Économie Politique, 1988, vol. 14, issue 1, 59-68

Abstract: [fre] Dans la Théorie Générale, aussi bien que dans ses écrits de 1937, Keynes, pour clarifier les thèmes principaux du livre, mentionne sur divers arguments ses dettes vis-à-vis d'lrving Fisher. Aux yeux du lecteur moderne au courant de la fracture qui existe entre la théorie de la valeur néo-classique basée sur les travaux de Fisher et les théories post-keynésiennes développées à partir de l'œuvre de Keynes, cette reconnaissance de dette laisse perplexe. Etant donné la prééminence des interprétations néo-classiques de Keynes de nos jours, cet article se propose d'examiner les fondations des références de Keynes à Fisher et d'établir sa contribution aux idées de la Théorie Générale, 50 ans après sa publication. [eng] In both the General Theory and his 1937 writings clarifying the main themes of the book, Keynes refers in various respects to his debts to Irving Fisher. To the modern reader aware of the cleavage between neo-classical value theory based on Fisher's work and the post-Keynesian theories stemming from Keynes' work this indebtedness appears perplexing. Recognising the dominance of the neo-classical intepretations of Keynes in modern times this paper seeks to assess the foundations of Keynes' references to Fisher and to clarify his contribution to the ideas of the General Theory 50 years after its publication.

Date: 1988
Note: DOI:10.3406/cep.1988.1058
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