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This paper revisits Keynes's liquidity preference theory as it evolved from the Treatise on Money to The General Theory and after, with a view of assessing the theory's ongoing relevance and applicability to issues of both monetary theory and policy. Contrary to the neoclassical "special case"...
Persistent link: https://www.econbiz.de/10003229836
In November 1987, Hyman Minsky visited Bogotá, Colombia, after being invited by a group of professors who at that time … were interested in post-Keynesian economics. There, Minsky delivered some lectures, and Lauchlin Currie attended two of … those lectures at the National University of Colombia. Although Currie is not as well-known as Minsky in the American …
Persistent link: https://www.econbiz.de/10011925602
This paper examines the views of Hyman Minsky and Abba Lerner on the functional finance approach to fiscal policy. It … compares and contrasts the evolution of the views of Minsky and Lerner over the postwar period, arguing that Lerner …. Minsky's views of functional finance became more nuanced, in line with his Institutionalist approach to the economy. However …
Persistent link: https://www.econbiz.de/10011794285
modern exponents Hyman Minsky, Charles Goodhart, and Geoffrey Ingham. This literature became the foundation for Modern Money …
Persistent link: https://www.econbiz.de/10010252186
The job guarantee is a viable policy option for tackling both unemployment and underemployment. Hyman P. Minsky was one … of the seminal writers on this subject. The first part of this working paper provides a survey of Minsky's writings to … identify what kind of jobs he had in mind when recommending employer-of-last-resort policies. Minsky favored: (1) jobs …
Persistent link: https://www.econbiz.de/10012419360
inevitable in the future. We think an overall alternative is needed and at hand: Minsky’s theories on investment, financial …
Persistent link: https://www.econbiz.de/10011546673
insights of Karl Marx on labor, as well as those of Hyman Minsky on finance. The best way to do this is within a longer …-like, nonmechanical view about long waves, where Minsky's financial Keynesianism is integrated with Marx's focus on capitalist relations … of production. Both are essential elements in understanding neoliberalism's ascent and collapse. Minsky provided crucial …
Persistent link: https://www.econbiz.de/10010457216
Underdevelopment is often conceived as being reproduced domestically. This paper emphasizes the international forces that enable the persistence of underdevelopment. We first explore how the currency hierarchy imposes a dependency relation between developed and underdeveloped economies. We...
Persistent link: https://www.econbiz.de/10014320883
This paper revisits Keynes's (1930) essay titled "The economic possibilities for our grandchildren." We discuss the three broader trends identified by Keynes that he expected would come to characterize the socio-economic evolution of advanced countries under individualistic capitalism: first,...
Persistent link: https://www.econbiz.de/10014464162
This paper offers a retrospective view of the key pillar of Solow's neoclassical growth model, namely the aggregate production function. We review how this tool came to life and how it has survived until today, despite three criticisms that undermined its raison d'être. They are the Cambridge...
Persistent link: https://www.econbiz.de/10014500314