Is the Treatise on Money John Maynard Keynes' major work analyzing contemporary capitalism?

Le Traité sur la Monnaie est-il l’œuvre majeure de John Maynard Keynes pour analyser le capitalisme contemporain ?

Nicolas Piluso () and Jean-François Ponsot
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Nicolas Piluso: CERTOP - Centre d'Etude et de Recherche Travail Organisation Pouvoir - UT2J - Université Toulouse - Jean Jaurès - UT - Université de Toulouse - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse - CNRS - Centre National de la Recherche Scientifique, UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse, UT - Université de Toulouse, IUT Paul Sabatier - Institut Universitaire de Technologie - Paul Sabatier - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse
Jean-François Ponsot: UGA UFR FEG - Université Grenoble Alpes - Faculté d'Économie de Grenoble - UGA - Université Grenoble Alpes, PACTE - Pacte, Laboratoire de sciences sociales - CNRS - Centre National de la Recherche Scientifique - UGA - Université Grenoble Alpes - IEPG - Sciences Po Grenoble-UGA - Institut d'études politiques de Grenoble - UGA - Université Grenoble Alpes

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Abstract: The Treatise on Money, published in 1930, was long neglected by economists and policy-makers in favor of the very famous General Theory, published in 1936. Keynes himself saw it as "an artistic failure". The purpose of this paper is to highlight the value of the Treatise on Money in analyzing and explaining contemporary economic phenomena and debates. Attention will be focused on the fundamental theoretical contributions of the Treatise on Money, such as the dynamics of economic cycles, the fundamental equations, and the money. In the context of a directly monetary economy, Keynes established a theory of prices, macroeconomic dynamics and money that is particularly illuminating for understanding financialization, financial instability and inflation, but which has been largely forgotten by economists critical of today's financialized capitalism, who prefer to refer to Minsky or to Keynes's General Theory.

Keywords: Keynes; Capitalism; Cycle; Money; Cycles; Capitalisme; Monnaie (search for similar items in EconPapers)
Date: 2025
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Published in Interventions Economiques : Papers in Political Economy, inPress

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05064313

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