Introduction: Monetary Circulation and Effective Demand

Abstract

In the years before her death Joan Robinson used to refer to the ‘second crisis of economic theory’, the first, of course, being that which was provoked by the Great Depression and the rise of Keynesian economics. The second crisis in her view came in the aftermath of the stagflation of the 1970s (and 1980s) together with the Capital Critique and the rise of a post Keynesian alternative.KeywordsInterest RateFinancial MarketCentral BankBanking SystemBank CreditThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.