A Keynes + Schumpeter Model to Explain the Relationship Between Money, Development and Crises
Bibliographic Data
| ID | 12229814 |
|---|---|
| Authors | Giancarlo Bertocco (0000-0002-2373-4977, Università degli Studi dell’Insubria, Varese, Italy, corresponding author), Andrea Kalajzić (Università degli Studi dell’Insubria, Varese, Italy) |
| Year | 2020 |
| Volume | 32 |
| Issue | 3 |
| Pages | 390-413 |
| Publication date | 2020-07-02 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Review of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0953-8259 • E-ISSN: 1465-3982 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/09538259.2020.1783874 |
| OpenAlex | W3049230327 |
| Language | EN |
| Citations received | 2 |
| References cited | 20 |
Over the years, many economists have underlined the opportunity to integrate the lessons of Keynes and Schumpeter. Recently, Dosi and his co-authors have developed a ‘Keynes + Schumpeter’ model that describes a ‘complex evolving system’. This work presents a different version of a K + S model that highlights the role of bank money in the introduction of innovations, an essential part of Schumpeter’s analysis neglected by Dosi and his co-authors. The aim of this work is to integrate the visions of Keynes and Schumpeter in a way allowing: (i) to elaborate a monetary theory of production that highlights the relationship between money, development and crises; (ii) to show that the explanation of the relationship between money and crises derived from our K + S model is sounder than the explanations developed by Keynes in The General Theory, which is based on the liquidity preference theory, and by Schumpeter in Business Cycles, which, instead, is based on the concept of creative destruction
Business cycle · Central bank · Economics · Keynesian economics · Liquidity preference · Macroeconomics · Market liquidity · Microeconomics · Monetary policy · Money creation · Neoclassical economics · Preference · Sociology · Vision · Work (physics · Economic theories and models · Economic Theory and Institutions · Economic Theory and Policy
| Citations per year | 0.33 |
|---|---|
| Citation span | 2020 - 2022 (3) |
| Highly cited | No |