Lange and Keynes

Jan Toporowski
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Jan Toporowski: University of London

Chapter 8 in The Legacy of Rosa Luxemburg, Oskar Lange and Michał Kalecki, 2014, pp 141-153 from Palgrave Macmillan

Abstract: Abstract Oskar Lange was unusual among Marxists in his openness to the ideas of non-Marxist economists and in his willingness to engage with their analysis. Among those non-Marxist economists was John Maynard Keynes; Lange became one of the key interpreters of Keynes’s enigmatic General Theory of Employment, Interest and Money, and one of the founders of the Neo-Classical Synthesis of Keynesian and pre-Keynesian ideas that was to dominate macroeconomics for 30 years after the death of Keynes. Lange, like Hicks and Samuelson, attempted to adapt Keynes’s ideas to his (Lange’s) own pre-Keynesian notions of money, saving and investment. This is shown in the first part of this chapter, which discusses Lange’s interpretation of Keynes’s General Theory and the concept of money and interest within which Lange framed Keynesian macroeconomics. Significantly, however, Lange chose to confront Keynes not over his macroeconomics but over Keynes’s critique of econometrics.

Keywords: Business Cycle; Real Income; Real Consumption; Business Cycle Theory; Monetary Theory (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pshchp:978-1-137-33560-9_9

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DOI: 10.1057/9781137335609_9

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