An Issue With Own-rates : Keynes Borrows From Sraffa, Sraffa Criticises Keynes, and Present-day Commentators Get Hold of the Wrong End of the Stick

Grieve, Roy H (2013) An Issue With Own-rates : Keynes Borrows From Sraffa, Sraffa Criticises Keynes, and Present-day Commentators Get Hold of the Wrong End of the Stick. Discussion paper. University of Strathclyde, Glasgow.

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Abstract

Scholars who in recent years have studied the Sraffa papers held in the Wren Library of Trinity College, Cambridge, have concluded from Sraffa’s critical (but unpublished) observations on Chapter 17 of Keynes’s General Theory that he rejected Keynes’s central proposition that the rate of interest on money may come to ‘rule the roost’, thus dragging the economy into recession. While Sraffa does indeed express dissatisfaction with Chapter 17, the commentators have, we believe, misunderstood his concern: we suggest that he was unhappy with the ‘own-rates’ terminology employed by Keynes rather than with the substance of the theory developed in Chapter 17.

  • Item type:Monograph(Discussion paper)
    ID code:68092
    Dates:
    Date
    Event
    2013
    Published
    Notes:Published as a paper within the Discussion Papers in Economics, No. 13-19 (2013)
    Subjects:Social Sciences > Economic Theory
    Department:Strathclyde Business School > Economics
    Depositing user: Pure Administrator
    Date deposited:29 May 2019 10:06
    Last modified:09 Apr 2024 04:43
    URI:https://strathprints.strath.ac.uk/id/eprint/68092
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