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Article in Journal

Keynes and Gesell: Political and Social Philosophy, Epistemology and Monetary Reform

Citation
Dow S (2017) Keynes and Gesell: Political and Social Philosophy, Epistemology and Monetary Reform, Annals of the Fondazione Luigi Einaudi, 1 (1), pp. 77-92.

Abstract
It is conventional now to understand Keynes’s economics in terms of his philosophy. The particular connection has been made between his epistemology and his theory of liquidity preference and his approach to policy. Here we widen the scope to include social and political philosophy as well as epistemology and consider how these influenced Keynes’s position on monetary reform. We consider monetary reform particularly in terms of Gesell’s proposal for stamped money, effectively for a negative rate of interest. It is argued that Keynes and Gesell had much in common in terms of social and political philosophy. But Keynes’s epistemology generated a different approach to monetary theory and policy advice, and thus to monetary reform from that of Gesell. In particular Keynes came to different conclusions about monetary reform depending on context.

Keywords
Keynes; Gesell; monetary reform

StatusPublished
AuthorsDow Sheila
Publication date2017
Date accepted by journal05/06/2017
PublisherFondazione Luigi Einaudi
ISSN 2532-4969
LanguageEnglish

Journal
Annals of the Fondazione Luigi Einaudi: Volume 1, Issue 1

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