Post-Keynesian Monetary Theory recaps Marc Lavoie's views on
monetary theory over a 35-year period, seen from a post-Keynesian
perspective. The book contains a collection of twenty previously
published papers, as well as an introduction which explains how
these papers came about and how they were received. All of the
selected articles avoid mathematical formalism. Readers will find
analyses of the earlier advocates of endogenous money such as
Nicholas Kaldor and Jacques Le Bourva. They will discover how the
arguments in support of the post-Keynesian theory of endogenous
money and the credit view of banking have evolved through this
35-year period, and how they have been related to the new
procedures pursued by central banks. All these essays show the
relevance of the realistic post-Keynesian monetary theory in
understanding the subprime and euro crises, quantitative easing and
the distributional role of interest rates. Within these pages Marc
Lavoie provides an overview of what has happened in post-Keynesian
monetary economics over the last three and a half decades for
students and scholars with interest in monetary economics, the
horizontalist-structuralist debates and the recent history of
economic thought.
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