© 1998

Post Keynesian Monetary Economics


Table of contents

  1. Front Matter
    Pages i-xv
  2. Stephen Rousseas
    Pages 1-15
  3. Stephen Rousseas
    Pages 17-36
  4. Stephen Rousseas
    Pages 37-73
  5. Stephen Rousseas
    Pages 75-90
  6. Stephen Rousseas
    Pages 91-116
  7. Back Matter
    Pages 145-168

About this book


A Post Keynesian critique of monetarism and of contemporary Keynesian theory, calling for a return to the original ideas of John Maynard Keynes. Its primary emphasis is on the endogeneity of the money supply and on the financial innovations that have served to limit the effectiveness of monetary policy. It calls for the addition of a selective control over the flow of credit in the economy as an addition to the conventional Keynesian contracyclical tools for keeping the economy at full employment, along with a recognition that inflation is a function of money wages and not the aggregate supply or money.


economics employment Inflation John Maynard Keynes Keynes monetarism monetary economics monetary policy monetary theory money

Authors and affiliations

  1. 1.Vassar CollegeNew YorkUSA

About the authors

STEPHEN ROUSSEAS is the Dexter M. Ferry Jr Emeritus Professor of Economics at Vassar College. He has taught at Columbia University, the University of Michigan, Yale University, Cornell University, and New York University. Professor Rousseas is the author of The Death of Democracy: Greece and the American Conscience, Monetary Theory, Capitalism and Catastrophe: A Critical Appraisal of the Limits of Capitalism, The Political Economy of Reaganomics: A Critique, and numerous articles and reviews.

Bibliographic information


'An excellent and beautifully written book. It is only now that I see the full architecture and signficance of Post Keynesian theory, which this book makes beautifully clear.' - Robert Heilbroner

'An original and provocative book which could be profitably read by the generalist as well as by economists especially interested in monetary economics. Social economists should be particularly interested in the broader policy proposals advanced by Rousseas...' - Christopher J. Niggle, Review of Social Economy

'A most useful, lucid and well-written book, one much needed to redress the undue emphasis on real factors in Post Keynesian analysis in general.' - G.C. Harcourt, Economic Journal