Social Democracy for the 21st Century: A Post Keynesian Perspective Thu 2010-07-22 16:08 EDT
Money is not a Neutral Veil
Neoclassical economics has the erroneous belief that money is neutral...Neoclassical analysis sees economic life in terms of a moneyless, ideal barter system. In this system, money exists but has been introduced merely to make trade easier...[however] John Maynard Keynes' General Theory of Employment, Interest and Money (1936) argued that modern capitalist economies are pre-dominantly monetary systems. The starting point for any sensible economic theory must recognise that monetary factors are crucial to modern economic activity...
21st century; money; Neutral Veil; Post Keynesian Perspective; social democracy.