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The paper considers the legacy for modern macroeconomics of Kalecki’s theory of income determination. The latter is reconstructed in its analytical constituent parts referring in detail to the original sources. The critical appraisal of its historical relevance is made from the vantage point...
Persistent link: https://www.econbiz.de/10005126093
and thrift. His point was that it is money, not saving, which is the necessary prerequisite for economic activity in …This paper revisits Keynes’s liquidity preference theory as it evolved from the Treatise on Money to The General Theory … interest as a replacement for flawed saving or loanable funds theories of interest emphasizing the real forces of productivity …
Persistent link: https://www.econbiz.de/10005126066