Alternative Theories of the Rate of Interest: A Reconsideration

Gunnar Heinsohn and Otto Steiger

Chapter 4 in The Monetary Theory of Production, 2005, pp 67-81 from Palgrave Macmillan

Abstract: Abstract The view of money as a special good was so deeply burnt into economic thought after neoclassical theory had stormed the universities of the Western world for forty years that, in 1911, a trailblazer like Joseph Schumpeter was required to inform a learned public that the entrepreneur, ‘before he requires any goods whatsoever, he requires… money, and which is not based upon goods already produced’ (1911, pp. 102 and 112).

Keywords: Central Bank; Alternative Theory; Credit Market; Credit Bank; Neoclassical Theory (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52307-4_5

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DOI: 10.1057/9780230523074_5

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