Financing economic activity: Schumpeter vs Keynes
In this paper I compare Schumpeter's and Keynes' views on the financing of economic activity. As will be seen, both economists share common ideas about the working and financing of market economies. In particular, both Keynes and Schumpeter reject the classical notions of the neutrality of money and the dichotomy of the real and the monetary sector, emphasising instead the role of monetary and financial variables in their respective explanations of economic fluctuations (section 1). However, the two approaches also display significant differences, most notably with regard to the importance attributed to specific financial variables and institutions for the financing of economic activity. Section 2 examines these differences and emphasises the originality of Schumpeter's analysis of banking.
|Date of creation:||2002|
|Date of revision:|
|Publication status:||Published in The Contribution of Joseph Schumpeter to Economics, Routledge, pp.241-256, 2002|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00468593|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-00468593. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.