We appraise the canonical Robertson­Keynes discussion from the structural axis of exogeneity/endogeneity of the interest rate. The interest rate is shown to be an exogenous variable. It is only with Keynes’ contribution of liquidity preference and, specifically, the introduction of the...

We decompose the representative agent into her manager, worker and rentier selves. The criterion is the information set of each of the 'incarnations' at every stage of a repeated game. The rentier's information set includes anticipating information while the information set of the other agents...