The “Cambridge” Critique of the Quantity Theory of Money. A Note on How Quantitative Easing Vindicates It

Maria Cristina Marcuzzo

Chapter Chapter 12 in Economic Theories, Protagonists and Facts, 2024, pp 211-226 from Palgrave Macmillan

Abstract: Abstract Through quantitative easing markets have been flooded with liquidity, but rather than inflation we have witnessed a general deflation because of the liquidity trap environment in which the banking system operated; this article revisits the arguments against the quantity theory in the “Cambridge” tradition of John Maynard Keynes, Richard Kahn, and Nicholas Kaldor, and defends their soundness and topicality.

Keywords: Cambridge monetary theory; Inflation; Quantitative easing (search for similar items in EconPapers)
JEL-codes: B31 E31 E40 (search for similar items in EconPapers)
Date: 2024
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Journal Article: The “Cambridge” critique of the quantity theory of money: A note on how quantitative easing vindicates it (2017)
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DOI: 10.1007/978-3-031-63949-4_12

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