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The role of precautionary motive in Keynes’s theory and conception of surrogate stores of value

русская версия

Опубликовано на портале: 11-05-2013
TERRA ECONOMICUS. 2013.  Т. 11. № 1. С. 29-37. 
The paper is devoted to various and ambiguous treatments of precautionary motive of demand for money by Keynes in his main works published in 1936 and 1937. It is shown that one of these treatments allows making link between uncertainty and money. This link is crucial for the contemporary Post Keynesian economics. The author considers also how conception of precautionary motive was displaced by from mainstream economics, and also the possible role of this conception for the development of Post Keynesian theory of surrogate stores of value.
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