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De la mano de Keynes (II): "A Treatise on Money"

Author

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  • Emili Miquel Sanchez Diaz

    (Universitat de Barcelona)

Abstract

In A Tract on Monetary Reform John Maynard Keynes proposed to use the monetary base and the reserve-deposit ratio as main instruments of a monetary policy considered until then as no required. Beyond the concept of cycle credit developed in this book we find the first steps leading towards the notion of liquidity preference enlarged in A Treatise on Money and fully defined in The general theory such us we are presently using it. Previously, A Treatise on Money, represented one of the first tries in developing a modern macroeconomic analysis using real values, suggesting the need to introduce the public expenditure as an instrument to overcome the unemployment problem in industrial countries. Consequantly, this work tries to call the attention towards A Treatise on Money, which brings out some theoretic and idological difficulties to be solved by Keynes through his intellectual course in economics.

Suggested Citation

  • Emili Miquel Sanchez Diaz, 1999. "De la mano de Keynes (II): "A Treatise on Money"," Working Papers in Economics 55, Universitat de Barcelona. Espai de Recerca en Economia.
    • Handle: RePEc:bar:bedcje:199955
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    More about this item

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory

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