By: Claude Gnos (Editor), Louis-Philippe Rochon (Editor)

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The multiplier is a central concept in Keynesian and post-Keynesian economics. It is largely what justifies activist full-employment fiscal policy: an increase in fiscal expenditures contributing to multiple rounds of spending, thereby financing itself. Yet, while a copingstone of post-Keynesian theory, it is not universally accepted by all post-Keynesians, for reasons vastly different than the mainstream.
This book explores both the pros and cons of the multiplier from a strictly post-Keynesian - and Kaleckian - approach. Anchored within the tradition of endogenous money, this book offers a lively discussion from a number of well-known post-Keynesians from a variety of perspectives: history of thought, theory and economic policy. The book starts by analysing the historical foundations of the Keynesian Multiplier and it's treatment throughout the history of economic thought. Moving through a critical debate about the limits of the multiplier, the contributions finish by offering cutting edge new views on this fascinating concept.

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List of illustrations
The Keynesian multiplier: an introduction
Structure of the book
Some views on the multiplier
Three views of the multiplier
John Maurice Clark's contribution to the genesis of the multiplier analysis: a note with some related unpublished correspondence
The multiplier relation as the pure theory of output and employment in a monetary production economy
Some critical insights on the multiplier
The investment multiplier and income saving
The intertemporal transmission of money in the endogenous monetary economy: a blessing from the past or a curiosity?
The demise of the Keynesian multiplier revisited
Consumption, investment and the investment multiplier
Toward a re-interpretation of the multiplier
Kalecki and the multiplier
The Keynesian multiplier: the monetary pre-conditions and the role of banks as defended by Richard Kahn's 1931 paper - a horizontalist re-interpretation
The multiplier, the principle of effective demand and the finance motive: a single coherent framework
Index
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9780415320139
ISBN-10: 0415320135
Series: Routledge Frontiers of Political Economy
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Published: 24th July 2008
Dimensions (cm): 23.4 x 15.6  x 1.8
Weight (kg): 0.474