IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-18229-9_4.html
   My bibliography  Save this book chapter

The endogenous money supply

In: Post Keynesian Monetary Economics

Author

Listed:
  • Stephen Rousseas

Abstract

One of the enigmas of our time is why the quantity theory of money, in one form of another, has survived as long as it has. Nicholas Kaldor regards its current “monetarist” guise as a “terrible curse” and “a visitation of evil spirits” which has caused misery and agony in the form of mass unemployment in the major countries of the West. It is decadent in the Nietzschean sense of going intuitively “for the bad solutions for getting out of difficult situations” while failing “to pick out the good ones.’1 For Kaldor, the rise of monetarism is not due to its “scientific” merits, for it has none. It was the use of monetarism to justify the reactionary shift in the balance of power from labor to capital—at least in Britain and the United States in recent times, and in Chile one might add—that explains its current success in the field of reigning ideas.

Suggested Citation

  • Stephen Rousseas, 1986. "The endogenous money supply," Palgrave Macmillan Books, in: Post Keynesian Monetary Economics, chapter 0, pages 62-72, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-18229-9_4
    DOI: 10.1007/978-1-349-18229-9_4
    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.

    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:pal:palchp:978-1-349-18229-9_4. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    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.