This paper identifies what seem to have been the five main issues in contention in monetary theory, both historically and in the current era, and discusses the view that J.M. Keynes took on each of them in the Treatise on Money and The General Theory. The key issues in monetary theory are the...

In recent blog posts, Paul Krugman proposes a heuristic model to analyse the advanced country macroeconomic situation circa 2014. An earlier version focusing on Japan is much more formalized with the usual New Keynesian paraphernalia. Despite Krugman’s claims to the contrary, the analysis...

The ‘comprehensive socialization of investment’ was a key policy goal of The General Theory. And yet, empirically, we have seen a decline in the public investment share in most OECD countries since the economic crisis of the 1970s. In this paper we study several issues concerning...

This paper reconstructs the essential traits of Garegnani's thought on the theory of distribution. In particular, it reconstructs the central point of his work (which saw him involved in debates with economists such as Blaug, Bliss, Hahn, Hollander, Joan Robinson and Samuelson) – namely,...