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Lange and Keynes

In: The Legacy of Rosa Luxemburg, Oskar Lange and Michał Kalecki

Author

Listed:
  • Jan Toporowski

    (University of London)

Abstract

Oskar Lange was unusual among Marxists in his openness to the ideas of non-Marxist economists and in his willingness to engage with their analysis. Among those non-Marxist economists was John Maynard Keynes; Lange became one of the key interpreters of Keynes’s enigmatic General Theory of Employment, Interest and Money, and one of the founders of the Neo-Classical Synthesis of Keynesian and pre-Keynesian ideas that was to dominate macroeconomics for 30 years after the death of Keynes. Lange, like Hicks and Samuelson, attempted to adapt Keynes’s ideas to his (Lange’s) own pre-Keynesian notions of money, saving and investment. This is shown in the first part of this chapter, which discusses Lange’s interpretation of Keynes’s General Theory and the concept of money and interest within which Lange framed Keynesian macroeconomics. Significantly, however, Lange chose to confront Keynes not over his macroeconomics but over Keynes’s critique of econometrics.

Suggested Citation

  • Jan Toporowski, 2014. "Lange and Keynes," Palgrave Studies in the History of Economic Thought, in: Riccardo Bellofiore & Ewa Karwowski & Jan Toporowski (ed.), The Legacy of Rosa Luxemburg, Oskar Lange and Michał Kalecki, chapter 8, pages 141-153, Palgrave Macmillan.
    • Handle: RePEc:pal:pshchp:978-1-137-33560-9_9
    DOI: 10.1057/9781137335609_9
    as

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