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Irving Fisher, Great-Grandparent of the General Theory : Money, Rate of Return over Cost and Efficiency of Capital

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  • Jan Kregel

Abstract

[fre] Dans la Théorie Générale, aussi bien que dans ses écrits de 1937, Keynes, pour clarifier les thèmes principaux du livre, mentionne sur divers arguments ses dettes vis-à-vis d'lrving Fisher. Aux yeux du lecteur moderne au courant de la fracture qui existe entre la théorie de la valeur néo-classique basée sur les travaux de Fisher et les théories post-keynésiennes développées à partir de l'œuvre de Keynes, cette reconnaissance de dette laisse perplexe. Etant donné la prééminence des interprétations néo-classiques de Keynes de nos jours, cet article se propose d'examiner les fondations des références de Keynes à Fisher et d'établir sa contribution aux idées de la Théorie Générale, 50 ans après sa publication. [eng] In both the General Theory and his 1937 writings clarifying the main themes of the book, Keynes refers in various respects to his debts to Irving Fisher. To the modern reader aware of the cleavage between neo-classical value theory based on Fisher's work and the post-Keynesian theories stemming from Keynes' work this indebtedness appears perplexing. Recognising the dominance of the neo-classical intepretations of Keynes in modern times this paper seeks to assess the foundations of Keynes' references to Fisher and to clarify his contribution to the ideas of the General Theory 50 years after its publication.

Suggested Citation

  • Jan Kregel, 1988. "Irving Fisher, Great-Grandparent of the General Theory : Money, Rate of Return over Cost and Efficiency of Capital," Cahiers d'Économie Politique, Programme National Persée, vol. 14(1), pages 59-68.
  • Handle: RePEc:prs:caecpo:cep_0154-8344_1988_num_14_1_1058
    DOI: 10.3406/cep.1988.1058
    Note: DOI:10.3406/cep.1988.1058
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    Cited by:

    1. Robert Dimand, 2002. "Patinkin on Irving Fisher's monetary economics," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(2), pages 308-326.
    2. Marion Dieudonné, 2016. "Thorstein Veblen's 1904 contributions to Q and insider/outsider analysis," Working Papers hal-01313309, HAL.
    3. Abdulelah Alrasheedy, 2019. "The Cost of Unemployment in Saudi Arabia," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 11(11), pages 1-30, November.
    4. Edward W. Fuller, 2020. "Alchian on Keynes," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 33(4), pages 503-511, December.

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