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Money and Keynesian Uncertainty

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  • Lucarelli, B.
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    Abstract

    Keynes’s theory of a monetary economy and his liquidity preference theory of investment will be examined in order to highlight the essential properties of money under the conditions of uncertainty, which inevitably prefigures the existence of involuntary unemployment and could – within a laissez faire, deregulated financial system – induce phases of endemic financial instability and crises.

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    File URL: http://mpra.ub.uni-muenchen.de/28862/
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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 28862.

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    Date of creation: 26 Jun 2010
    Date of revision: 10 Feb 2011
    Handle: RePEc:pra:mprapa:28862

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    Keywords: uncertainty; money; liquidity preference; crisis; investment;

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    1. Giancarlo Bertocco, 2007. "The characteristics of a monetary economy: a Keynes--Schumpeter approach," Cambridge Journal of Economics, Oxford University Press, vol. 31(1), pages 101-122, January.
    2. Davidson, Paul, 1972. "Money and the Real World," Economic Journal, Royal Economic Society, vol. 82(325), pages 101-15, March.
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