Economics, Econometrics and Finance
4 years ago

Marx's monetary theory reshapes post-Keynesian economics, impacting global financial systems.

RePEc: Research Papers in Economics
Money, credit and the interest rate in Marx's economic. On the similarities of Marx's monetary analysis to Post-Keynesian economics
Eckhard Hein

Paper Summary

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The article discusses how Marx's ideas on money, credit, and interest rates are similar to those of post-Keynesian economics. It shows that Marx's theory of capitalist reproduction influenced Kalecki's theory of effective demand. Additionally, Marx's views on monetary economics align well with the post-Keynesian focus on a monetary theory of production.