IDEAS home Printed from https://ideas.repec.org/a/bla/scotjp/v35y1988i3p193-207.html
   My bibliography  Save this article

Idle Balances and Keynesian Theory

Author

Listed:
  • Dow, Alexander C
  • Dow, Sheila C

Abstract

J. M. Keynes discussed the ideas of The General Theory at length with R. G. Hawtrey and D. H. Robertson. In their correspon dence, the notion of idle (or inactive) balances figures prominently. Each had a different understanding of what idle balances were and wh at their significance was. This article reviews the debate over idle balances in the 1930s. The suggestion is pursued that the concept of idle balances may still have content, and may, for example, be helpfu l in clarifying a recent debate on the role of finance in Keynesian t heory. Copyright 1988 by Scottish Economic Society.

Suggested Citation

  • Dow, Alexander C & Dow, Sheila C, 1988. "Idle Balances and Keynesian Theory," Scottish Journal of Political Economy, Scottish Economic Society, vol. 35(3), pages 193-207, August.
    • Handle: RePEc:bla:scotjp:v:35:y:1988:i:3:p:193-207
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    References listed on IDEAS

    as
    1. Geoffrey C. Harcourt, 1984. "Reflections on the Development of Economics as a Discipline," History of Political Economy, Duke University Press, vol. 16(4), pages 489-517, Winter.
    2. A. Asimakopulos, 1986. "Finance, Liquidity, Saving, and Investment," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 9(1), pages 79-90, September.
    3. Snippe, Jan, 1985. "Finance, Saving and Investment in Keynes's Economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 9(3), pages 257-269, September.
    4. J. A. Kregel, 1986. "A Note on Finance, Liquidity, Saving, and Investment," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 9(1), pages 91-100, September.
    5. Gladys Parker Foster, 1987. "Financing Investment," Journal of Economic Issues, Taylor & Francis Journals, vol. 21(1), pages 101-112, March.
    6. Stephen Rousseas, 1986. "Post Keynesian Monetary Economics," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-18229-9, October.
    7. Paul Davidson, 1978. "Money and the Real World," Palgrave Macmillan Books, Palgrave Macmillan, edition 0, number 978-1-349-15865-2, October.
    8. Wilson, Thomas, 1980. "Robertson, Money, and Monetarism," Journal of Economic Literature, American Economic Association, vol. 18(4), pages 1522-1538, December.
    9. Paul Davidson, 1986. "Finance, Funding, Saving, and Investment," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 9(1), pages 101-110, September.
    10. George J. Stigler & Claire Freidland, 1979. "The Pattern of Citation Practices in Economics," History of Political Economy, Duke University Press, vol. 11(1), pages 1-20, Spring.
    11. Asimakopulos, A, 1983. "Kalecki and Keynes on Finance, Investment and Saving," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 7(3-4), pages 221-233, September.
    12. Victoria Chick, 1983. "Macroeconomics after Keynes: A Reconsideration of the General Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262530457, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Giovanni Cesaroni, 2001. "The finance motive, the Keynesian theory of the rate of interest and the investment multiplier," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 8(1), pages 58-74.
    2. Bellino, Enrico & Nerozzi, Sebastiano, 2013. "Causality and interdependence in Pasinetti's works and in the modern classical approach," MPRA Paper 52179, University Library of Munich, Germany.
    3. Bill Lucarelli, 2011. "The Economics of Financial Turbulence," Books, Edward Elgar Publishing, number 14252.
    4. Mark Hayes, 2006. "The Economics of Keynes: A New Guide to The General Theory," Books, Post Keynesian Economics Society (PKES), number nggt.
    5. Bellino , Enrico & Nerozzi, Sebastiano, 2015. "Causality and interdependence in Pasinetti’s works and in the modern classical approach," Centro Sraffa Working Papers CSWP10, Centro di Ricerche e Documentazione "Piero Sraffa".
    6. Jochen Hartwig, 2006. "Explaining the aggregate price level with Keynes's principle of effective demand," Review of Social Economy, Taylor & Francis Journals, vol. 64(4), pages 469-492.
    7. Joerg Bibow, 2005. "Liquidity Preference Theory Revisited—To Ditch or to Build on It?," Method and Hist of Econ Thought 0508003, University Library of Munich, Germany.
    8. Claudio Sardoni, 2019. "Investment and savings in a dynamic context," Working Papers 1/19, Sapienza University of Rome, DISS.
    9. Jochen Hartwig, 2017. "The Comparative Statics of Effective Demand," Review of Political Economy, Taylor & Francis Journals, vol. 29(3), pages 360-375, July.
    10. Marcelo de Oliveira Passos & José Luís Oreiro, 2008. "A post Keynesian macrodynamic simulation model for an open economy," Anais do XXXVI Encontro Nacional de Economia [Proceedings of the 36th Brazilian Economics Meeting] 200807211235250, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    11. Noemi Levy-Orlik, 2012. "Keynes’s views in financing economic growth: the role of capital markets in the process of funding," Chapters, in: Jesper Jespersen & Mogens Ove Madsen (ed.), Keynes’s General Theory for Today, chapter 10, pages 167-185, Edward Elgar Publishing.
    12. Sheila Dow & Dipak Ghosh, 2009. "Fuzzy logic and Keynes's speculative demand for money," Journal of Economic Methodology, Taylor & Francis Journals, vol. 16(1), pages 57-69.
    13. Victoria Chick, 1997. "Some Reflections on Financial Fragility in Banking and Finance," Journal of Economic Issues, Taylor & Francis Journals, vol. 31(2), pages 535-542, June.
    14. Marco A. Crocco, 2008. "Technical Change And Formation Of Expectations," Metroeconomica, Wiley Blackwell, vol. 59(2), pages 276-304, May.
    15. David Laidler, 2002. "Skidelsky's Keynes: a review essay," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(1), pages 97-110.
    16. Carlos Sidnei Coutinho, 1995. "Modelo analítico da síntese pós-keynesiana: instabilidade e acumulação de riqueza na economia monetária da produção," Textos para Discussão Cedeplar-UFMG 090, Cedeplar, Universidade Federal de Minas Gerais.
    17. Korkut A. Erturk, 2006. "On the Minskyan Business Cycle," Economics Working Paper Archive wp_474, Levy Economics Institute.
    18. Korkut Erturk, 2005. "Speculation, Liquidity Preference and Monetary Circulation," Working Paper Series, Department of Economics, University of Utah 2005_12, University of Utah, Department of Economics.
    19. Bofinger, Peter & Maas, Daniel & Ries, Mathias, 2017. "A model of the market for bank credit: The case of Germany," W.E.P. - Würzburg Economic Papers 98, University of Würzburg, Department of Economics.
    20. Annina Kaltenbrunner, 2018. "Financialised internationalisation and structural hierarchies: a mixed-method study of exchange rate determination in emerging economies," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 42(5), pages 1315-1341.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:scotjp:v:35:y:1988:i:3:p:193-207. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/sesssea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.