A CRITICAL APPROACH AND FURTHER ELABORATION OF KEYNES` THEORY OF INFLATION

Authors

  • Ђоко Слијепчевић, PhD Faculty of Economics, University of Banja Luka

Keywords:

inflation, price, demand, wage, income, consumption, savings, investments.

Abstract

Among numerous authorities in the field of economy who have discussed the issue of inflation, Keynes holds one of the top positions. However, apart from Keynes? undoubtfully significant contribution to the analysis of theory of inflation, it is important to point to the certain imperfections of his theory. These imperfections led some theorists into further elaborating of Keynes? concept of inflation, and they all aimed at eliminating its shortages. At the same time, they attempted to complement the theory and to give it an appropriate, dynamic character. T. Koopmans, A. Smithies, B. Hansen and R. Turvey were among these, which is concisely presented in the paper.

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References

Eremić, M., Ekonomski sistem J. M. Keynesa: od Treatise on money do General Theory of emploument interest and money, (I i II dio) čas. Ekonomski anali br. 144 i 145, Ekonomski fakultet, Beograd, 2000.

Glišević, N., Kejnsov koncept inflacije i antiinflacione politike i njegova aktuelnost, "Ekonomski anali", br. 134, Beograd, 1997.

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Keynes, J.M., Now to Pay for The War. A. Radical Plan for the Chancllor of the Exsheguer, London 1940. Republikovano u: Inflation Ed. by R.J. Ball and P. Doyle, Pengvin modern Economics, Harmondsworth, England, 1970.

Koopmans, T., The Dynamics of Inflation, The Review of Economic Statistics, Vol. 24/1942.

Smithies, A., The Behaviom of Money National Income under inflationary Conditions, the Quarterly Journal of Economics, Vol. 57/1943.

Šoški, B., Ekonomska misao, "Savremena administracija", Beograd, 1995.

Turvey, R., Some Aspect of the Theory of Inflation in Clased Economy, The Economic Journal, Sept. 1951.

Vučković, M., Savremeni problemi monetarne teorije i politike, "Naučna knjiga", Beograd, 1960.

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Published

2003-12-31

How to Cite

Слијепчевић, Ђ. (2003). A CRITICAL APPROACH AND FURTHER ELABORATION OF KEYNES` THEORY OF INFLATION. Acta Economica, 2(2), 80–90. Retrieved from https://ae.ef.unibl.org/index.php/AE/article/view/323

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Section

Review article