Suchergebnisse

Después de 40 años de neoliberalismo, hasta los gobiernos creen que son ineficientes cuando se comparan con el sector privado. La teoría económica, con su giro a la derecha, refuerza esta idea. La filosofía detrás del gasto público con objetivos sociales, así como los criterios con los que se juzgan esos proyectos no han sido objeto de debate público sino hasta muy recientemente. La política industrial era muy simple: dejar al sector privado la distribución de los recursos, de acuerdo con lo que decidiera el mercado. En tiempos de Keynes así no eran las cosas. El presente artículo reflexiona sobre algunos de los problemas de la política industrial que surgieron durante el periodo de entreguerras. Se necesita revivir el debate, revisarlo y, donde sea necesario, actualizarlo, con el fin de hacerlo corresponder con el presente; por ello, mucho puede aprenderse de los principios básicos discutidos entre una guerra y otra. El contraste entre el reciente Libro Blanco sobre estrategia industrial (2018) del gobierno de Reino Unido y la Consulta Industrial Liberal El futuro industrial británico (1928) es muy aleccionador.

A exposição feita por Keynes na Teoria Geral não é fácil de entender.Em várias partes, entretanto, ela não é verdadeiramente traiçoeira – embora em outras partes seja. Noções contrárias e ideologias conflitantes ainda causam muitos desentendimentos, e este campo elementar das discussões é revisto aqui.

ABSTRACT To many, economics is seen as increasingly divorced from reality. I shall argue that one of the causes of this divorce is the attachment to closed-system theorising, and advocate instead the method of open systems with partial and temporary closures. Definitions of closed and open systems are examined. It is evident that there are many different criteria which may define open systems. Theorists differ in their emphasis on one or other criterion. There are also different dimensions of openness: openness to non-economic factors; the openness of economic theories themselves; the interplay of micro- and macro-economics; and the treatment of time. These are explored, using Keynes's General Theory as a case study of an open system.

Different ways of studying monetary theory are discussed. Chick compares the roles and functions, money acquires in the neoclassical general equilibrium model, in Keynesian as well as in circular flow theories. She argues in favour of an economic theory, which is open to historical time and the evolution of institutions. Otherwise economic theory will be depleted of social relevance.

ABSTRACT The title of the paper alerts the reader to the fact that while the role of money in Keynes's earlier work is alluded to, it is mostly the monetary contribution of the General Theory (to which the author is particularly partial) which is surveyed here. The General Theory represents a breakthrough in monetary theory both broadly and narrowly defined. Money in the General Theory is all-pervasive. It is essential in the sense of Radner and Hahn. Money is also essential in allowing Keynes to break away, more profoundly than before, from equilibrium economics. Monetary theory narrowly defined also represents a breakthrough: speculative demand is a revolutionary concept, driving a wedge between the rate of interest and the rate of profit. The concept is elaborated and compared with Hicks's treatment. The article ends with a brief section on the finance motive and endogenous money.

Though Keynes wrote prodigiously, his position in economics is based on The General Theory of Employment, Interest and Money (1936). Without it, I think he would be judged as a fine economist, exceptionally able to combine theoretical work and practical policy application, but I doubt that he would stand as one of our "greats".