JMK and the Fourth Grand Monetary Discussion

Geoff Tily

Chapter 3 in Keynes’s General Theory, the Rate of Interest and ‘Keynesian’ Economics, 2007, pp 37-91 from Palgrave Macmillan

Abstract: Abstract Keynes was a monetary economist concerned above all with monetary policy. His specific objectives have been well described by E. A. G. Robinson: Indeed it is difficult not to be impressed by the consistency of his main strategic objectives: the full employment of resources; the achievement of balance of payments for all countries by methods that would not be inconsistent with full employment; as a means to this, a system of exchange rates that would combine the short-term virtues of fixity and predictability with the long-term virtues of flexibility; and, as a means to full employment, low interest rates. (Robinson 1947, p. 45)

Keywords: Interest Rate; Monetary Policy; Central Bank; Capital Control; Federal Reserve System (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-80137-0_3

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DOI: 10.1057/9780230801370_3

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