The Theory of Interest Robertson Versus Keynes and the Long-Period Problem of Saving and Debt |
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| Author:
| Blackford, George H. |
| ISBN: | 978-1-881564-07-2 |
| Publication Date: | Feb 2018 |
| Publisher: | D M C Software, Incorporated
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| Imprint: | www.rwEconomics.com |
| Book Format: | Ebook |
| List Price: | USD $9.95 |
Book Description:
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The purpose of this monograph to sort through the issues of the Liquidity-Preference / Loanable-Funds (LP/LF) debate in order to provide a definitive explanation of the way in which the rate of interest is determined, and, beyond this, to explain the fundamental connection between the central thesis of Keynes¿ General Theory and the economic, political, and social problems we face today. Specifically, it explains how ignoring Keynes¿ analysis of the long-period problem of saving...
More DescriptionThe purpose of this monograph to sort through the issues of the Liquidity-Preference / Loanable-Funds (LP/LF) debate in order to provide a definitive explanation of the way in which the rate of interest is determined, and, beyond this, to explain the fundamental connection between the central thesis of Keynes¿ General Theory and the economic, political, and social problems we face today. Specifically, it explains how ignoring Keynes¿ analysis of the long-period problem of saving criticized by Robertson in the LP/LF debate led to the adoption of economic policies that resulted in the Crash of 2008 and the economic stagnation that followed. In addition, the manuscript is written as a primer on Keynes¿ General Theory, directed toward economics students in the hope that it will facilitate among the young a better understanding of Keynes¿ work and of the way in which the economic system actually works in the real world.