When he discussed savings and consumption in the General Theory, Keynes distinguished neither between capitalists and workers nor between business and households. Notwithstanding the importance of the first of these two distinctions I shall deal in this chapter only with the second which involves problems of its own.


Government Spending Budget Deficit Debt Ratio Household Saving Effective Demand 
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  1. Harrod, R. F. (1951) The Life of John Maynard Keynes (New York: Avon).Google Scholar
  2. Minsky, Hyman P. (1982) ‘The potential for financial crisis’, working paper, Washington University, St Louis (December).Google Scholar
  3. Steindl, J. (1982) ‘The role of household saving in the modern economy’, Banca Nazionale del Lavoro Quarterly Review (March).Google Scholar

Copyright information

© Association pour le Développement des Etudes Keynésiennes 1989

Authors and Affiliations

  • Josef Steindl

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