Munich Personal RePEc Archive

Money and Keynesian Uncertainty

Lucarelli, B. (2010): Money and Keynesian Uncertainty.

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Abstract

Keynes’s theory of a monetary economy and his liquidity preference theory of investment will be examined in order to highlight the essential properties of money under the conditions of uncertainty, which inevitably prefigures the existence of involuntary unemployment and could – within a laissez faire, deregulated financial system – induce phases of endemic financial instability and crises.

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