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A Post-Keynesian Theory of Growth, Interest and Money

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The Dynamics of the Wealth of Nations

Abstract

While firmly based in the classical tradition, the work of Luigi Pasinetti, together with that of Joan Robinson and Nicholas Kaldor, has laid the foundations of a Post-Keynesian approach to the theory of growth, interest and money. The approach is ‘Post-Keynesian’ in the sense that it combines elements of Keynes’s (1936) ideas in the General Theory, as well as the extension of those ideas as developed in the last three decades by economists following the Cambridge tradition in Keynesian economics.1 The purpose of this paper is to attempt to synthesize the Post-Keynesian contributions by providing a critical discussion of the conceptual elements of the approach, and by developing a formal model of growth in which monetary aspects are explicitly taken into consideration.

The authors are grateful to Geoff Harcourt for his helpful comments on an earlier draft.

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Authors
  1. Amitava K. Dutt
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  2. Edward J. Amadeo
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Editor information

Editors and Affiliations

  1. Università di Verona, Italy

    Mauro Baranzini (Professor of Economics) (Professor of Economics)

  2. University of Cambridge, Cambridge, UK

    G. C. Harcourt (Reader in the History of Economic Theory, Fellow of Jesus College, Professor Emeritus) (Reader in the History of Economic Theory, Fellow of Jesus College, Professor Emeritus)

  3. University of Adelaide, Australia

    G. C. Harcourt (Reader in the History of Economic Theory, Fellow of Jesus College, Professor Emeritus) (Reader in the History of Economic Theory, Fellow of Jesus College, Professor Emeritus)

Copyright information

© 1993 Mauro Baranzini and G. C. Harcourt

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Dutt, A.K., Amadeo, E.J. (1993). A Post-Keynesian Theory of Growth, Interest and Money. In: Baranzini, M., Harcourt, G.C. (eds) The Dynamics of the Wealth of Nations. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-22728-0_8

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