EconPapers    
Economics at your fingertips  
 

Ecological monetary economics: A post-Keynesian critique

Louison Cahen-Fourot and Marc Lavoie

Post-Print from HAL

Abstract: The monetary analysis of some ecological economists currently appears to be mostly articulated around the fol- lowing core: a stationary economy (and a fortiori a degrowth economy) is incompatible with a system in which money is created as interest-bearing debt. To question the relevance of the debt-money/positive interest rate/ output growth nexus, this paper adopts a critical stance towards the currently emerging ecological monetary eco- nomics from the standpoint of another strand of heterodox economics – the post-Keynesian approach. In its cur- rent state, ecological monetary economics is at odds with post-Keynesian economics in its analysis of the money– growth relationship. This will be shown using the theory of endogenous money and a simple Cambridgian– Kaleckian model where debt-money and a positive interest rate are compatible with a full stationary economy.

Keywords: Growth imperative; Debt-money; Degrowth; Ecological macroeconomics; Ecological monetary economics; Post-Keynesian Economics; Stationary-state (search for similar items in EconPapers)
Date: 2016-04-22
Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-01370578
References: Add references at CitEc
Citations: View citations in EconPapers (11) Track citations by RSS feed

Published in Ecological Economics, Elsevier, 2016, 126, ⟨10.1016/j.ecolecon.2016.03.007⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Ecological monetary economics: A post-Keynesian critique (2016) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01370578

DOI: 10.1016/j.ecolecon.2016.03.007

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().

 
Page updated 2022-01-19
Handle: RePEc:hal:journl:hal-01370578