Publication: Journal of Economic Education
Volume: Volume 16, No. 1
Issue: Winter 1985
Pages: pp. 5-15
Author(s): Hyman P. Minsky
Title: The Legacy of Keynes
Abstract: The author reviews the contribution of John Maynard Keynes (1883-1946) to current economic thought and contrasts Keynes's analysis with more orthodox theory in terms of allocation-efficiency and stabilization-efficiency. Before tackling Part 1 of the article, readers may wish to go to Parts 2 and 3 to explore the inferences drawn from the nonneutrality of money and the instability that this may engender. The discussion is controversial and thought-provoking.