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Joan Robinson and Keynes: finance, relative prices and the monetary circuit

Author

Listed:
  • Claude Gnos

    (LEG - Laboratoire d'Economie et de Gestion - UB - Université de Bourgogne - CNRS - Centre National de la Recherche Scientifique)

  • Louis-Philippe Rochon

Abstract

Joan Robinson's views on credit and money are discussed only rarely. Of late, however, some Post-Keynesians have sought to revive these views, claiming that Robinson was one of the original contributors to the theory of endogenous money, post Keynes. This paper has two objectives. First, it seeks to develop Robinson's views on credit, money and finance and to show that not only did she have a clear understanding of the theory of endogenous money, but that she also held views akin to the theory of the monetary circuit. Second, the paper addresses Robinson's dismissal of the problem of relative prices and the conventional theory of value. Once again, it shows that Robinson's position is connected closely with the model of the monetary circuit as a basis of her theory of accumulation.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Claude Gnos & Louis-Philippe Rochon, 2003. "Joan Robinson and Keynes: finance, relative prices and the monetary circuit," Post-Print halshs-00270133, HAL.
    • Handle: RePEc:hal:journl:halshs-00270133
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    Cited by:

    1. Di Domenico, Lorenzo, 2021. "Stability and determinants of the public debt-to-GDP ratio: an Input Output – Stock Flow Consistent approach," MPRA Paper 109970, University Library of Munich, Germany.
    2. Lorenzo Di Domenico, 2023. "The Paradox of Profits in an AB-SFC Model," Bulletin of Political Economy, Bulletin of Political Economy, vol. 17(1), pages 47-90, June.
    3. Dilip M. Nachane, 2018. "The Global Crisis According to Post-Keynesians," India Studies in Business and Economics, in: Critique of the New Consensus Macroeconomics and Implications for India, chapter 0, pages 205-220, Springer.
    4. Claude Gnos, 2013. "A historical perspective on the theory of the monetary circuit: from Schumpeter to Parguez," Chapters, in: Louis-Philippe Rochon & Mario Seccareccia (ed.), Monetary Economies of Production, chapter 3, pages 23-32, Edward Elgar Publishing.
    5. Di Domenico, Lorenzo, 2021. "Stability and determinants of the public debt-to-GDP ratio: an Input Output – Stock Flow Consistent approach," MPRA Paper 110460, University Library of Munich, Germany.
    6. Louis-Philippe Rochon & Sergio Rossi, 2013. "Endogenous money: the evolutionary versus revolutionary views," Review of Keynesian Economics, Edward Elgar Publishing, vol. 1(2), pages 210-229, January.

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