Money, Method and Contemporary Post-Keynesian Economics
Show Less

Money, Method and Contemporary Post-Keynesian Economics

Edited by Sheila Dow, Jesper Jespersen and Geoff Tily

This volume concentrates on contemporary Post-Keynesian contributions in money, method and economic policy. Post-Keynesian economics shares with Keynes the ambition of understanding the economy as a whole and as an integrated part of society. The book begins by analysing money, banks and finance as dynamic phenomena, followed by chapters focusing on methodological themes such as uncertainty, longer-term issues, sustainability and other non-monetary economic activities.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 2: Keynes applied

Geoff Tily

Abstract

In June 1931 Keynes wrote of the ‘prodigious and incredible’ investment activity in the United States: It seems an extraordinary imbecility that this wonderful outburst of productive energy should be the prelude to impoverishment and depression. Some austere and puritanical souls regard it both as an inevitable and desirable nemesis on so much over-expansion, as they call it; a nemesis on man’s speculative spirit . . .. I do not take this view. (Keynes [1931b] 1973, p. 349) His primary concern was to sustain the boom, not repair the bust. Ultimately the world crisis was catalyst to a theoretical scheme which formalised this insight and provided the practical means to its realisation.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.