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Keynes, Sraffa and the Emergence of the General Theory: Some Thoughts


  • Roy Grieve

    () (Department of Economics, University of Strathclyde)


This note looks into the issue of whether or not Sraffa had any significant influence on Keynes’s thinking in the period of preparation of the General Theory. Questioning the view recently expressed by Pasinetti (2007), we suggest there is reason to surmise that Sraffa may have pointed Keynes to a way of escape from the traditional conception of the rate of interest, a line of thought which Keynes developed into the liquidity preference explanation of interest on money.

Suggested Citation

  • Roy Grieve, 2008. "Keynes, Sraffa and the Emergence of the General Theory: Some Thoughts," Working Papers 0804, University of Strathclyde Business School, Department of Economics.
  • Handle: RePEc:str:wpaper:0804

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    General Theory (Emergence); LIquidity Preference; Sraffa; Own Rates;

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian

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