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Keynes’s Treatise on Money and the role of the State

Author

Listed:
  • Guglielmo Forges Davanzati

    (University of Salento)

  • Andrea Pacella

    (University of Catania)

Abstract

This paper aims at providing a critical reconstruction of Keynes’s view on the links existing between public spending, interest rate, wages and employment, as formulated in his Treatise on Money. It will be argued that Keynes’s approach leads to a policy prescription which stresses the necessity of direct State intervention in supplying goods and services. This conclusion is derived from a circuitist interpretation of this work.

Suggested Citation

  • Guglielmo Forges Davanzati & Andrea Pacella, 2016. "Keynes’s Treatise on Money and the role of the State," Iberian Journal of the History of Economic Thought, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Dpto. Historia e Instituciones Económicas I., vol. 3(1), pages 17-26.
    • Handle: RePEc:ucm:ijohet:v:3:y:2016:i:1:p:17-26
    DOI: 10.5209/IJHE.53077
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    More about this item

    Keywords

    John Maynard Keynes; Dinero endógeno; Política fiscal.;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution

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