Category Archives: public infrastructure investment

Keynes A monetary theory of production

One of the major mistakes of some Keynesian interpreters and followers has been to underestimate the extent to which Keynes believed that monetary policy along side fiscal policy was and remains important. It is a necessary but not sufficient mechanism … Continue reading

Posted in fiscal policy, J.M.Keynes, Keynesian policy, monetary policy and Keynes, public infrastructure investment, quantitative easing and Keynes, quantity theory of money, Uncategorized | Leave a comment

Even IMF believes in debt financed public infrastructure: at current low interest rates multiplier may be 3

According to a commentary by Larry Summers in today’s Financial Times the IMF has pronounced itself finally in favour of major public infrastructure investment financed not by tax increases but by medium and long term borrowing. The current low interests … Continue reading

Posted in anti austerity, deficit hysteria, Keynesian policy, public infrastructure investment | Leave a comment