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基本説明
New in paperback. Hardcover was published in 2008. Debates all aspects of Keynes' notion of 'the multiplier'.
Full Description
The multiplier is a central concept in Keynesian and post-Keynesian economics. It is largely what justifies activist full-employment fiscal policy: an increase in fiscal expenditures contributing to multiple rounds of spending, thereby financing itself. Yet, while a copingstone of post-Keynesian theory, it is not universally accepted by all post-Keynesians, for reasons vastly different than the mainstream.
This book explores both the pros and cons of the multiplier from a strictly post-Keynesian - and Kaleckian - approach. Anchored within the tradition of endogenous money, this book offers a lively discussion from a number of well-known post-Keynesians from a variety of perspectives: history of thought, theory and economic policy. The book starts by analysing the historical foundations of the Keynesian Multiplier and it's treatment throughout the history of economic thought. Moving through a critical debate about the limits of the multiplier, the contributions finish by offering cutting edge new views on this fascinating concept.
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Contents
Introduction, Section One: Some Views of the Multiplier, 1. Three Views on the Multiplier, 2. John Maurice Clark's Contribution to the Genesis of the Multiplier Analysis: A note with some related unpublished correspondence, 3. The Material and Methodological Significance of the Supermultiplier, Section Two: Critical Insights on the Multiplier , 4. The Investment Multiplier and Income Savings, 5. The Multiplier and the Principle of Reflux, 6. The Demise of the Keynesian Multiplier Revisited, 7. Consumption, Investment and Investment Multiplier, Section Three: Towards a Re-interpretation of the Muliplier , 8. Kalecki and the Multiplier, 9. The Keynesian Multiplier: The Monetary Pre-Conditions and the Role of Banks as Defended by Richard Kahn's 1931 Paper. A Horizontalist Re-Interpetation, 10. The Multiplier, the Principle of Effective Demand and the Finance Motive: a coherent framework.
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