Post-Keynesian Monetary Theory

Makoto Itoh and Costas Lapavitsas
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Makoto Itoh: Kokugakuin University
Costas Lapavitsas: University of London

Chapter 10 in Political Economy of Money and Finance, 1999, pp 226-245 from Palgrave Macmillan

Abstract: Abstract Official postwar Keynesianism largely ignored Keynes’ original emphasis on uncertainty, the capitalist entrepreneur’s ‘animal spirits’ and the psychological elements of money holding. In Britain, where the radical milieu in which Keynes had moved remained much in evidence, it became common practice to differentiate between the economics of Keynes and official Keynesianism. Moreover the tradition of the banking school had also retained a strong influence in British policy-making and academic life. These strands of economic thought were instrumental to the emergence of post-Keynesianism.

Keywords: Central Bank; Money Supply; Foreign Exchange Reserve; Money Stock; Credit System (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37578-9_10

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DOI: 10.1057/9780230375789_10

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