Studies in monetary economics

Patinkin, Don

Harper&Row

This book examines the much-debated question of whether John Maynard Keynes' greatest workâ€”The General Theory of Employment Interest and Moneyâ€”was an instance of Mertonian simultaneous scientific discovery. In part I of this study, Don Patinkin argues for Keynes' originality, rejecting the claims of the Stockholm school and the Polish economist Michal Kalecki. Patinkin shows that the theoretical problems to which the Stockholm school and Kalecki devoted their attention largely differed from those of the General Theory and that, even when the problem addressed was similar, the treatment they accorded it was not part of their central messages. In the remaining parts of the book Patinkin presents a critique of Keynes' theory of effective demand and discusses Keynes' monetary theory and policy thinking, as well as the relationship between the respective developments of Keynesian theory and national income accounting in the 1930s.

Anticipations of the General Theory?: And Other Essays on Keynes

Business & Money

Economics

Univ of Chicago Pr

This book examines the much-debated question of whether John Maynard Keynes' greatest work—The General Theory of Employment Interest and Money—was an instance of Mertonian simultaneous scientific discovery. In part I of this study, Don Patinkin argues for Keynes' originality, rejecting the claims of the Stockholm school and the Polish economist Michal Kalecki. Patinkin shows that the theoretical problems to which the Stockholm school and Kalecki devoted their attention largely differed from those of the General Theory and that, even when the problem addressed was similar, the treatment they accorded it was not part of their central messages. In the remaining parts of the book Patinkin presents a critique of Keynes' theory of effective demand and discusses Keynes' monetary theory and policy thinking, as well as the relationship between the respective developments of Keynesian theory and national income accounting in the 1930s.

University of Chicago Press

A quarter of a century after the publication of the second edition, this classic work continues to be on the reading list of graduate courses in macroeconomics. Integrating monetary theory and value theory, Money, Interest, and Prices describes the demand functions for commodities and bonds (emphasizing the real balance effect) and uses these functions to carry out a static and dynamic analysis of the central problems of monetary theory - the effects of changes in the quantity of money and shifts in liquidity preference on interest, prices, and employment.  This reprinted edition omits the supplementary notes on the literature and contains a new introduction indicating the ways that Patinkin has revised or augmented its analysis. The author discusses issues that have arisen around his disequilibrium approach to macroeconomics as well as his use of the money-in-the-utility function approach to the demand for money. Patinkin explains why he rejects the alternative overlapping generations and cash in advance approaches to this demand and briefly indicates how the books analysis can be extended to an open economy and to an economy with growth and refers the reader to more extensive treatments of the topics dealt with.  Don Patinkin is Professor of Economics at Hebrew University in Jerusalem.

Money, Interest, and Prices : An Integration of Monetary and Value Theory - 2nd Edition, Abridged

Mit Pr

Keynes' Monetary Thought: A Study of Its Development

Politics & Social Sciences

Social Sciences

Duke Univ Pr

An in-depth, mathematical overview of key academic economic concepts. Includes black-and-white photographs of important economic thinkers.

Essays on and in the Chicago Tradition

The quantity theory of money has remained at the heart of much of the contemporary economic debate, not least in the disputes between Monetarist and Keynesian economists.United by a belief that the quantity theory of money is a significant economic theory whose history is frequently misunderstood, these essays challenge our understanding of both monetary economics and the history of its development. Beginning with an essay by Walter Eltis on John Locke and the quantity theory of money, this volume continues with work by Mark Blaug, Denis O'Brien, Robert Skidelsky and Geoffrey Wood on the development of the theory and its continuing relevance for contemporary economics. The volume concludes with comments by Don Patinkin.

The Quantity Theory of Money: From Locke to Keynes and Friedman

Blaug, Mark

SKIDELSKY, ROBERT

Wood, Geoffrey

Eltis, Walter

O’Brien, Dennis

Edward Elgar Publishing

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Books by Patinkin, Don