Keynes and Money

Louise Davidson

Chapter 26 in Money and Employment, 1990, pp 389-407 from Palgrave Macmillan

Abstract: Abstract The basis of Keynes’s revolution in economic theory has been placed in the multiplier (Johnson, 1961, p. 144; Patinkin, 1982, p. xxi), or in the fixity of money-wages and prices (Modigliani, 1944), or in the reversal of the Marshallian price and quantity adjustment velocities (Leijonhufvud, 1968;1 Friedman, 1974, p. 18), or in the failure of markets to coordinate nominal effective demand and actual effective demand (Clower, 1965; Clower and Leijonhufvud, 1975).

Keywords: Banking System; Money Supply; Full Employment; Liquid Asset; Quantity Theory (search for similar items in EconPapers)
Date: 1990
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DOI: 10.1007/978-1-349-11513-6_27

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