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the Sraffa papers held in the Wren Library of Trinity College, Cambridge, have concluded from Sraffa’s critical (but unpublished) observations on Chapter 17 of Keynes’s General Theory that he rejected Keynes’s central proposition that the rate of interest on money may come to ‘rule the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.
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Item type: Monograph(Discussion paper) ID code: 68092 Dates: DateEvent2013PublishedNotes: 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: 22 Sep 2024 01:28 URI: https://strathprints.strath.ac.uk/id/eprint/68092