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Post-Keynesian Monetary Theory

In: Political Economy of Money and Finance

Author

Listed:
  • Makoto Itoh

    (Kokugakuin University)

  • Costas Lapavitsas

    (University of London)

Abstract

Official postwar Keynesianism largely ignored Keynes’ original emphasis on uncertainty, the capitalist entrepreneur’s ‘animal spirits’ and the psychological elements of money holding. In Britain, where the radical milieu in which Keynes had moved remained much in evidence, it became common practice to differentiate between the economics of Keynes and official Keynesianism. Moreover the tradition of the banking school had also retained a strong influence in British policy-making and academic life. These strands of economic thought were instrumental to the emergence of post-Keynesianism.

Suggested Citation

  • Makoto Itoh & Costas Lapavitsas, 1999. "Post-Keynesian Monetary Theory," Palgrave Macmillan Books, in: Political Economy of Money and Finance, chapter 10, pages 226-245, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37578-9_10
    DOI: 10.1057/9780230375789_10
    as

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