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The principle of effective demand and the state of post-Keynesian monetary economics
The remainder of this chapter deals with the implications of these developments for the assessment of post-Keynesian monetary theory.
With this brief sketch of Keynes's theoretical vision and its policy implications in hand, we turn to an examination of current New and post-Keynesian monetary theories.
In the modern post-Keynesian literature, however, the standard challenge to the quantity theory of money focuses on the second sort of independence rather than the first.
In her brief but comprehensive intellectual history of money-endogeneity theory, Hewitson (1993, pp. 150-51) quite rightly emphasized Kaldor's role in the initial post-Keynesian response to Milton Friedman.
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