Money and Keynesian Uncertainty

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

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: uncertainty, money, liquidity preference, crisis, investment
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B10 - General; D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D53 - Financial Markets; B - History of Economic Thought, Methodology, and Heterodox Approaches > B3 - History of Economic Thought: Individuals > B31 - Individuals; A - General Economics and Teaching > A2 - Economic Education and Teaching of Economics > A20 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B50 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925 > B22 - Macroeconomics; A - General Economics and Teaching > A1 - General Economics > A10 - General

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