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Keynes’s Monetary Theory of Interest
Tily, Geoff - 2013
Now there is no part of our economic system which works so badly as our monetary and credit arrangements; none where the results of bad working are so disastrous socially; and none where it is easier to propose a scientific solution. (J. M. Keynes: Speech to the Liberal Party, December 1923, The...
Persistent link: https://www.econbiz.de/10013090850
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A Simplified, Graphical Exposition of Keynes's Argument on Pages 179-181 of the General Theory About the Equation Missing from the Neoclassical Theory of the Rate of Interest
Brady, Michael Emmett - 2018
Keynes provided a technical analysis on pages 179-181 of the General Theory that identified two separate rates of … economists to carefully analyze Keynes's analysis on pages 179-181 of the General Theory accounts for the misbelief that Keynes …'s theory of the rate of interest was a purely monetary theory of the rate of interest, although Keynes made it very clear to …
Persistent link: https://www.econbiz.de/10012926784
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On Harrod’s Deliberate Misrepresentation of Keynes’s Liquidity Preference Theory of the Rate of Interest After August 30th, 1935 : Lying to Ralph Hawtrey in June, 1951 and in His B...
Brady, Michael Emmett - 2018
the classical and neoclassical theory of the rate of interest by pointing out that the standard theory was one equation … in Keynes's theory was determined solely by the demand and supply of money. Hutchison had pointed this out in 1977 but …
Persistent link: https://www.econbiz.de/10012911542
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On the Role of Mathematical Illiteracy in the R. Hawtrey-D. Robertson-J. Robinson Critique of Keynes’s Liquidity Preference Theory of the Rate of Interest in the General Theory
Brady, Michael Emmett - 2018
Hawtrey and Dennis Robertson of Keynes's Theory of Liquidity Preference, which Harrod described in an August 30 1935, letter … to Keynes as a major reconstruction of interest rate theory. Harrod stated that the classical (neoclassical) theory of ….” Of course, Harrod is talking about the equation on page 199 of the General Theory which had two independent variables, Y …
Persistent link: https://www.econbiz.de/10012911779
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Endogenous Money and the Natural Rate of Interest : The Reemergence of Liquidity Preference and Animal Spirits in the Post-Keynesian Theory of Capital Markets
Pilkington, Philip Clarke - 2014
principles of post-Keynesian endogenous money theory. This paper argues that the most important critical component of post …-Keynesian monetary theory today is its rejection of the “natural rate of interest.” By examining the hidden assumptions of the loanable … interest version of the loanable funds theory, it quickly becomes clear that Minsky does not fall into the loanable funds camp …
Persistent link: https://www.econbiz.de/10013045724
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A Study of Some of the Most Severe Misrepresentations of J.M. Keynes's Theory of the Rate of Interest in the General Theory in the Late 1930's
Brady, Michael Emmett - 2018
Keynes's theory of the ra ... …
Persistent link: https://www.econbiz.de/10012932576