Abstract
Official postwar Keynesianism largely ignored Keynes’ original emphasis on uncertainty, the capitalist entrepreneur’s ‘animal spirits’ and the psychological elements of money holding. In Britain, where the radical milieu in which Keynes had moved remained much in evidence, it became common practice to differentiate between the economics of Keynes and official Keynesianism. Moreover the tradition of the banking school had also retained a strong influence in British policy-making and academic life. These strands of economic thought were instrumental to the emergence of post-Keynesianism.
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© 1999 Makoto Itoh and Costas Lapavitsas
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Itoh, M., Lapavitsas, C. (1999). Post-Keynesian Monetary Theory. In: Political Economy of Money and Finance. Palgrave Macmillan, London. https://doi.org/10.1057/9780230375789_10
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DOI: https://doi.org/10.1057/9780230375789_10
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-66522-0
Online ISBN: 978-0-230-37578-9
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