By Jorg Bibow
This publication presents a reassessment of Keynes’ conception of liquidity choice. It argues that the failure of the Keynesian revolution to be made in both concept or perform owes importantly to the truth that the position of liquidity choice conception as a pivotal aspect in Keynes’ normal conception has remained underexplored and certainly broadly misunderstood even between Keynes’ fans and till this day. The publication elaborates on and extends Keynes’ conceptual framework, relocating it from the closed economic system to the worldwide financial system context, and applies liquidity choice idea to present occasions and favorite hypotheses in international finance.
Jörg Bibow provides Keynes’ liquidity choice conception as a particular and hugely appropriate method of financial concept delivering a conceptual framework of common applicability for explaining the function and functioning of the economic system. He argues that, in a dynamic context, liquidity choice concept may possibly top be understood as a idea of economic intermediation. via functions to present occasions and well-known hypotheses in worldwide finance, this booklet underlines the richness, persisted relevance, and superiority of Keynes’ concept of liquidity choice; with Hyman Minsky status out for constructing Keynes’ imaginative and prescient of monetary capitalism.
Read Online or Download Keynes on Monetary Policy, Finance and Uncertainty: Liquidity Preference Theory and the Global Financial Crisis (Routledge Studies in the History of Economics) PDF
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Keynes on Monetary Policy, Finance and Uncertainty: Liquidity Preference Theory and the Global Financial Crisis (Routledge Studies in the History of Economics) by Jorg Bibow
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