The paper explores the link between financial sentiment and private debt, using Keynes’s A Treatise on Money as a conceptual backdrop. In responding to his critics after the publication of his General Theory Keynes famously talked about unexpected, violent changes in conventional asset...

The paper explores the link between financial sentiment and private debt, using Keynes's 'A Treatise on Money' as a conceptual backdrop. In responding to his critics after the publication of his 'General Theory' Keynes famously talked about unexpected, violent changes in conventional asset...