by On Sraffa and Keynes Both neo-classical and Sraffian theory stand mute when it comes to money and accumulation under capitalist conditions. In both frameworks the central areas of “the theory of money and the theory of capitalist accumulation” are among “the difficult analytical problems” that “remain to be settled” … A profit flows based analysis of an accumulating capitalist economy requires that the analysis include money and banking from the very beginning. This is the meaning of Keynes and why Keynes is incompatible with neo-classical theory and only marginally compatible with Sraffian theory … Vincent Lombardi, who, like George Allen, was a successful football coach once said “Winning isn’t everything, it is the only thing.” I would like to
Topics:
Lars Pålsson Syll considers the following as important: Economics
This could be interesting, too:
Robert Skidelsky writes Speech in the House of Lords – Autumn Budget 2024
Lars Pålsson Syll writes Modern monetär teori
Lars Pålsson Syll writes Problemen med Riksbankens oberoende
Lars Pålsson Syll writes L’ascenseur social est en panne
On Sraffa and Keynes
Both neo-classical and Sraffian theory stand mute when it comes to money and accumulation under capitalist conditions. In both frameworks the central areas of “the theory of money and the theory of capitalist accumulation” are among “the difficult analytical problems” that “remain to be settled” …
A profit flows based analysis of an accumulating capitalist economy requires that the analysis include money and banking from the very beginning. This is the meaning of Keynes and why Keynes is incompatible with neo-classical theory and only marginally compatible with Sraffian theory …
Vincent Lombardi, who, like George Allen, was a successful football coach once said “Winning isn’t everything, it is the only thing.” I would like to paraphrase this sage and make the radical statement that for an analysis of capitalist economies “Money isn’t everything, it is the only thing.”
As a young research stipendiate in the U.S. yours truly had the great pleasure and privilege of having Hyman Minsky as a teacher.
He was a great inspiration at the time.
He still is.