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On John Maynard Keynes

I think Chapter 12 of the General Theory is insightful. Chapter 17 draws on Sraffa's concept of own rates of interest, which Sraffa introduced in his critique of Hayek. Apparently Sraffa was not enthusiastic about Keynes' theory of liquidity preference. As I recall, the connections between Keynes and the more junior Sraffa go quite a bit further back. Sraffa translated Keynes' Tract on Monetary Reform into Italian. A major thesis of this book is that monetary authorities should worry more about unemployment and inflation inside their country than exchange rate stability. Apparently this was Sraffa's thesis, presented in Italy at the end of World War I.

Update: I suppose I ought to mention my game, which is closer to hydraulic keynesianism. I did get the idea for the underlying model from Kalecki.

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