This paper provides remarks on modern monetary theory (MMT) from a Kaleckian perspective in response to a paper by …

export-led mercantilist. For an economic policy alternative favouring a domestic demand-led regime, we turn towards Kalecki …

) coming. Obviously, the answer is complex, but it must include reference to the evolution of macroeconomic theory over the … leave out the parallel developments in finance theory - with its efficient markets hypothesis - and in approaches to … 12 and 17 of the General Theory. It essentially reduced Keynes to sticky wages and prices, with nonneutral money only in …

John Maynard Keynes's liquidity preference theory, Kregel argued that such rejection leaves the relation between money and … capital asset prices, and thus investment theory, hanging. This paper extends Kregel's analysis to an examination of the role … requires an extension of the circuit theory of money, along the lines of the credit and state money approaches of modern …

of money via the use of money for public purpose, following the principles of Modern Money Theory (MMT). When used …

The contribution by the Austrian economist Friedrich von Hayek to monetary theory stimulates a far-reaching debate on … money. Since the early 1930s Hayek had been concerned about the role of money in the theory of production (Hayek, 1931 …). Influenced by Eugene Bohm-Bawerk’s theory of capital, Hayek deeply examined the effects of monetary policy on the process of …