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Palgrave Macmillan

Money in Motion

The Post-Keynesian and Circulation Approaches

  • Book
  • © 1996

Overview

Editors:
  1. Ghislain Deleplace

    1. University of Paris 8, Saint-Denis, France

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    You can also search for this editor in PubMed   Google Scholar

  2. Edward J. Nell

    1. Graduate Faculty, New School for Social Research, New York, USA

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    You can also search for this editor in PubMed   Google Scholar

Part of the book series: Jerome Levy Economics Institute (JLEI)

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Table of contents (30 chapters)

  1. Front Matter

    Pages i-xiii
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  2. Introduction: Monetary Circulation and Effective Demand

    1. Front Matter

      Pages 1-1
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    2. Introduction: Monetary Circulation and Effective Demand

      • Ghislain Deleplace, Edward J. Nell
      Pages 3-41

  4. The Two Traditions: Commentary and History

    1. Front Matter

      Pages 239-239
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    2. Searching for the Roots of Circulation Theory

      1. The Circuit of Money in a Production Economy
        • Edward J. Nell
        Pages 245-304
      2. Does Circulation Need a Monetary Standard?
        • Ghislain Deleplace
        Pages 305-329
      3. The Relevance to Modern Economics of the Banking School View
        • Perry Mehrling
        Pages 330-340
      4. The National Economy Studied as a Whole: Aspects of Circular Flow Analysis in the German Language
        • Bernard Schmitt, Spartaco Greppi
        Pages 341-364

    3. Confronting the Mainstream

      1. The Ambiguity of the Notion of General Equilibrium with a Zero-Price for Money
        • Carlo Benetti
        Pages 366-376
      2. Basic Choices in Keynesian Models of Credit
        • Gary A. Dymski
        Pages 377-398

    4. Comparing Post Keynesian and Circulation Approaches

      1. Post Keynesian Fundism and Monetary Circulation
        • Mario Seccareccia
        Pages 400-416
      2. Investment Decisions in Circuit and Post Keynesian Approaches: A Comparison
        • Richard Arena
        Pages 417-433
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Keywords

About this book

In analyzing money, contemporary economics has focused its attention on money's function as a store of value, neglecting its role as medium of circulation. When circulation is put center stage, it becomes apparent that the supply of money does indeed adapt to the needs of trade - and does so in many different ways, often ways that are difficult for a central bank to control, because they reflect the responses of banks and other financial institutions to market incentives. But money's role in circulation must be coordinated with its store of value function, and both with finance. Failure here can lead to instability. The essays in this volume by internationally renowned economists cover these issues in original and contrasting analyses, presenting the American post-Keynesian perspective, on the one hand, and the point of view of the French Circulation School, on the other.

Editors and Affiliations

  • University of Paris 8, Saint-Denis, France

    Ghislain Deleplace

  • Graduate Faculty, New School for Social Research, New York, USA

    Edward J. Nell

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