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Keynes after 75 Years : Rethinking Money as a Public Monopoly

Wray, L. Randall - 2011

In this paper I first provide an overview of alternative approaches to money, contrasting the orthodox approach, in which money is neutral, at least in the long run; and the Marx-Veblen-Keynes approach, or the monetary theory of production. I then focus in more detail on two main categories: the...

Persistent link: https://www.econbiz.de/10013128005

Money in Finance

Wray, L. Randall - 2011

This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private...

Persistent link: https://www.econbiz.de/10013128521

The financial crisis viewed from the perspective of the "social costs" theory

Wray, L. Randall - 2011

This paper examines the causes and consequences of the current global financial crisis. It largely relies on the work of Hyman Minsky, although analyses by John Kenneth Galbraith and Thorstein Veblen of the causes of the 1930s collapse are used to show similarities between the two crises. K.W....

Persistent link: https://www.econbiz.de/10008933474

Keynes after 75 years : rethinking money as a public monopoly

Wray, L. Randall - 2011

Persistent link: https://www.econbiz.de/10008906545

Money in finance

Wray, L. Randall - 2011

Persistent link: https://www.econbiz.de/10008906555

The Fisher Relation in the Great Depression and the Great Recession

Laidler, David - 2013

The Fisher relation played a very different role in debates surrounding the Great Depression and the more recent Great Recession. This paper explores some of these differences, and suggests an explanation for them derived from a sketch of the idea's evolution between the two events, thus...

Persistent link: https://www.econbiz.de/10010291897

The Fisher Relation in the Great Depression and the Great Recession

Laidler, David - University of Western Ontario, Economic Policy Research … - 2013

Persistent link: https://www.econbiz.de/10010681092

On prices in the new neoclassical Sythesis in Macroeconomics

Tobon, Alexander - In: Lecturas de Economía (2008) 69, pp. 201-220

The aim of this paper is to study the role that prices play in the New Neoclassical Synthesis. It is shown that … offers the same answers on the minor role of prices in static macroeconomics. In spite of this, the New Neoclassical … the search for not just better answers, but for new questions regarding prices in a monetary theory. …

Persistent link: https://www.econbiz.de/10005464605

Peter Howitt: A Keynesian still in recovery

Laidler, David E. W. - 2022

Peter Howitt is best known for his contributions to growth theory, but his work in short- run economics, which began with his Ph.D thesis and still continues, is important and deserves attention. It lies firmly in the Keynesian macro-disequilibrium tradition of Clower and Leijonhufvud, and for a...

Persistent link: https://www.econbiz.de/10014278230

On the Dynamics of Profit- and Wage-led Growth

Bhaduri, Amit - 2007

This paper examines how variable output and profit share jointly determine investment and saving, while the difference between investment and saving determines the changes in output and profit share. Analysis of the resulting pair of differential equations yields novel implications for the...

Persistent link: https://www.econbiz.de/10012099871