Title: Reviving Keynesianism: the modelling of the financial system makes the difference
Abstract: Keynesian economics is not dead. Instead, it is in a similar condition to Sleeping Beauty after she pricked her finger on the spindle. A large hedge of thorns has been laid over the original Keynesian building so that it is hardly recognizable today. Keynesian economics has suffered from a failure to sufficiently identify the core of the Keynesian revolution. This paper argues that the core concerns the distinction between real and monetary exchange economies, and that a proper understanding of money's role requires identifying the mechanisms of the financial system. Doing so reveals the fundamental incompatibility between real and monetary analysis.
Publication Year: 2020
Publication Date: 2020-01-22
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 5
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