Post Keynesian Monetary strongEconomicsstrong A Critical Survey.pdfVIP

This article was published in the Cambridge Journal of Economics, 1994, vol. 18, tion of monetary economics;2 even so, the field of post Keynesian pp. 587–605. monetary economics thus demarcated is still a large one, particu- larly in view of Eichner and Kregel’s claim (1975, p. 1309) that since “ post-Keynesian theory deals with a monetized production economy in Keynes’s sense, there can be no analysis of money Post Keynesian Monetary Economics: separate from the analysis of the overall actions of the system.” A Critical Survey At the outset it may be helpful briefly to situate post Keyne- sian economics as a whole, to provide a context for the specifi- Allin Cottrell, Fall 1992 cally monetary work in this tradition. At its most general, the post Keynesian point of view may be summed up as follows. Keynes inaugurated a radical break in the way we ought to think about the workings of market, capitalist economies, yet this radicalism has