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The Veil of Barter: The Solution to ’The Task of Obtaining Representations of an Economy in which Money is Essential’

In: Inflation and Income Distribution in Capitalist Crisis

Author

Listed:
  • Gunnar Heinsohn
  • Otto Steiger

Abstract

In his battle against what he called ’classical Keynesianism’, Sidney Weintraub constantly exhorted his readers to bear in mind that Keynes’s The General Theory offered an analysis of a monetary economy and not ’a barter economy analysis’: It can be charged that the dominant brand of Keynesianism ... has accomplished a literal return to a barter economy when the veil of money and the complications of a price system have been removed. Even a superficial examination of its form reveals that all its analyses devolve about a real system that is relieved of the basic characteristics of a money economy. (Weintraub, 1961, p. 3— 1st and 2nd italics ours).

Suggested Citation

  • Gunnar Heinsohn & Otto Steiger, 1989. "The Veil of Barter: The Solution to ’The Task of Obtaining Representations of an Economy in which Money is Essential’," Palgrave Macmillan Books, in: J. A. Kregel (ed.), Inflation and Income Distribution in Capitalist Crisis, chapter 10, pages 175-201, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-08833-1_11
    DOI: 10.1007/978-1-349-08833-1_11
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