RT Journal Article T1 Keynes’s Treatise on Money and the role of the State A1 Forges Davanzati, Guglielmo A1 Pacella, Andrea AB This paper aims at providing a critical reconstruction of Keynes’s view on the links existing between public spending, interest rate, wages and employment, as formulated in his Treatise on Money. It will be argued that Keynes’s approach leads to a policy prescription which stresses the necessity of direct State intervention in supplying goods and services. This conclusion is derived from a circuitist interpretation of this work. AB Este artículo hace una reconstrucción crítica de la visión de Keynes sobre la relación entre gasto público, tipo de interés, salarios y desempleo, tal y como se formula en su Tratado sobre el Dinero. El trabajo defiende que el enfoque de Keynes lleva a propuestas de política económica que enfatizan la necesidad de intervención estatal directa en la provisión de bienes y servicios. Esta conclusión se deriva de una interpretación circuitista de su obra. PB Universidad Complutense de Madrid SN 2386-5768 YR 2016 FD 2016 LK https://hdl.handle.net/20.500.14352/23519 UL https://hdl.handle.net/20.500.14352/23519 LA eng NO Bellofiore, R. 2013. A heterodox structural Keynesian. Honouring Augusto Graziani, Review of Keynesian Economics, 1 (4), 325-430.Bellofiore, R, G. Forges Davanzati, and R. Realfonzo. 2000. Marx Inside the Circuit. Discipline Device, Wage Bargaining and Unemployment in a Sequential Monetary Economy, Review of Political Economy 12 (4), 403–417.Blaug, M. 1964 [1956]. Economic Theory in Retrospect. London, Heinemann.Carrera A. and Rossi S. 2015. Money, income and profit: lessons from the monetary theory of production, Iberian Journal of the History Economic Thought, 2 (1), pp: 48-60.Costabile, L. 2015. Augusto Graziani: Theoretician, Applied Economist, Historian of Economic Thought – An Appraisal, Italian Economic Journal 1 (2), 155-170.Crotty, J., Epstein, G. and Kelly P. 1995. Multinational corporations and technological change: global stagnation and unemployment Paper presented for the Economic Policy Institute's Conference on "Globalization and progressive economic policy: what are the real constraints? What are the real options? Washington D.C., October 27-29.Forges Davanzati, G., Pacella, A, and Patalano, R. 2015. The Keynesian features of Graziani’s monetary theory of production and some unresolved questions, Review of Political Economy, 27 (4), 565-584.Graziani, A. 1984. Moneta senza crisi (Money without crisis), Studi economici, n. 24, 3-37.Graziani, A. 2003. The Monetary Theory of Production. Cambridge, Cambridge University Press.Keynes, J. M. 1971-1989. The Collected Writings of John Maynard Keynes. 30 vols. Edited by D.E. Moggridge. London, Macmillan.Keynes, J. M. 1973 [1936]. The General Theory of Employment, Interest, and Money. London, Macmillan.Keynes, J. M. 1973 [1930]). A treatise on money. London, Macmillan.Patinkin, D. 1987. Keynes John Maynard. London, The New Palgrave, Macmillan, vol. 3, 19-41.Patinkin, D. 1990. On different interpretations of the General Theory, Journal of Monetary Economics 26, pp. 205-43.Rasmkogler, P. 2007. Uncertainty, market power and credit rationing. Vienna, Vienna University of Economics and Business Administration, w.p. n.105.Seccareccia, M. 2003. Pricing, investment and the financials of production within the framework of the monetary circuit: some preliminary evidence. In L. P. Rochon and S. Rossi S. (eds.), Modern theories of money, the nature and role of money in capitalistic economies. Cheltenham, Edward Elgar.Seccareccia, M. 2004. Aspects of a new conceptual integration of Keynes’s Treatise on Money and the General Theory: Logical time units and macroeconomic price formation. In in R. Arena and N. Salvadori (eds.), Money, credit and the role of the State. Essays in honour of Augusto Graziani. Aldershot, Ashgate, XVII.Smithin, J. 2009. Money, enterprise and income distribution. Towards a macroeconomic theory of capitalism. New York, Routledge.Tadeu Lima, G. and Setterfield, M. 2010. Pricing behaviour and the cost-push channel of monetary policy, Review of Political Economy 22 (1), 19-40. DS Docta Complutense RD 28 abr 2024