Dictionary of Arguments

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Author Item Summary Meta data
Mause I 57f
Money/Monetarism/Keynesianism: Despite the major economic policy differences between Keynesians and monetarists, both agree that money is only really effective in the short term, but neutral in the long term. While for the monetarists "short-term" is a question of months and the real effects possible in this period are not worth mentioning, the Keynesians interpret "short-term" much more generously (in the ballpark of several years), which is why even non-permanent effects could be a worthwhile economic policy goal. Both positions are within neoclassical theory.

Mause I 70
Money/Keynesianism/Post-Keynesianism/VsNeoclassicism: While the neoclassicism is based on the exogenity of the money supply (i.e. assumes that the central bank can control the money supply at its discretion), the Post-Keynesians assume an endogenous money supply, according to which the central bank must inevitably satisfy the respective money demand of the public. (1)

1. N. Kaldor, The new monetarism. Lloyds Bank Review 97, 1970, p. 1– 17.


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Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution.
The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
Keynesianism
Mause I
Karsten Mause
Christian Müller
Klaus Schubert,
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018


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Ed. Martin Schulz, access date 2019-03-22
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