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While Keynes is known for his theory of normal backwardation in futures markets, he is less known as a trader in these … markets. The question arises whether his theory acted as a guide to his trading activity or, rather, whether it was his … trading activity that shaped his theory. Backwardation was not viewed by Keynes as a permanent feature of futures market, but …
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This chapter explores how Walter Eucken situated himself in respect to John Maynard Keynes’s thought. It will be shown in particular that Keynes and Eucken were less alien to one another than is commonly assumed in the secondary literature. By considering together Keynes and Eucken's letters...
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