Keynes’s Treatise on Money and the role of the State

Guglielmo Forges Davanzati () and Andrea Pacella
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Guglielmo Forges Davanzati: University of Salento

Iberian Journal of the History of Economic Thought, 2016, vol. 3, issue 1, 17-26

Abstract: This paper aims at providing a critical reconstruction of Keynes’s view on the links existing between public spending, interest rate, wages and employment, as formulated in his Treatise on Money. It will be argued that Keynes’s approach leads to a policy prescription which stresses the necessity of direct State intervention in supplying goods and services. This conclusion is derived from a circuitist interpretation of this work.

Keywords: John Maynard Keynes; Dinero endógeno; Política fiscal.; John Maynard Keynes; Endogenous money; Fiscal policy. (search for similar items in EconPapers)
JEL-codes: B22 D33 E12 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.5209/IJHE.53077

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