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The Finance Motive, Keynes and Post Keynesians

In: Money and Production

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  • Stephen Rousseas

Abstract

This paper proposes a reconsideration of Keynes’s original conception of the finance motive and its development by American post-Keynesians. The financial demand for money is seen as a short-term phenomenon taking place during an investment boom when the revolving fund of credit is incapable of meeting the increased demand for transactions balances. The overall conclusion is that Keynesians and their post-Keynesian followers have overstated their case and that an opportunity was missed by Keynes in moving his Treatise to the General Theory, to link the demand for money with his concept of ‘industrial circulation’ in preference to the asset-bond model of the General Theory.

Suggested Citation

  • Stephen Rousseas, 2024. "The Finance Motive, Keynes and Post Keynesians," Chapters, in: Louis-Philippe Rochon & Mario Seccareccia (ed.), Money and Production, chapter 4, pages 78-90, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:22417_4
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    File URL: https://www.elgaronline.com/doi/10.4337/9781035314034.00010
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    Keywords

    Economics and Finance;

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