Post-Keynesian Monetary Theory

Selected Essays

New Directions in Post-Keynesian Economics series

Marc Lavoie, Professor Emeritus, University of Ottawa, Canada and Professor Emeritus, University of Sorbonne Paris Nord (CEPN), France

Post-Keynesian Monetary Theory recaps the views of Marc Lavoie on monetary theory, seen from a post-Keynesian perspective over a 35-year period. The book contains a collection of twenty previously published papers, as well as an introduction which explains how these papers came about and how they were received. All of the selected articles avoid mathematical formalism.

‘This collection of early essays on endogenous money by Marc Lavoie (and some later ones) is of the utmost importance. Marc’s commentary on the essay about Jacques Le Bourva is pivotal – ‘… a theory … [of] … the endogeneity of money is insufficient … one also has to reject the existence of a natural rate of interest …’’
– John Smithin, York University, Toronto and Aurora Philosophy Institute, Canada

‘Marc Lavoie has been a leading post-Keynesian economist for a long time. This book presents a collection of important papers, published over four decades, in one of his areas of specialization, monetary theory. It contains path-breaking contributions to the theory of endogenous money and credit and to monetary policy analysis.’
– Eckhard Hein, Berlin School of Economics and Law, Germany

‘This is a great collection of papers, written over four decades, displaying the many contributions which Marc Lavoie has made to the development of Post-Keynesian monetary theory. A highly recommended read of Marc’s in-depth analyses of endogenous money and credit and contributions to policy debates.’
– Malcolm Sawyer, Emeritus Professor of Economics, University of Leeds, UK

2020 416 pp Hardback 978 1 83910 008 6 £115.00 £103.50 $165.00 $148.50

Elgaronline 978 1 83910 009 3

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