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Cambridge's Contribution to Endogenous Money: Robinson and Kahn on credit and money

By Louis-Philippe Rochon

Abstract

It is often claimed by American Post Keynesians that the theories of endogenous money originated in the mid-1950s as a result of articles published by Nicholas Kaldor and Hyman Minsky. This paper offers another possibility. It argues that, in the mid-1950s, both Joan Robinson and Richard Kahn offered insights into the workings of a credit economy that have been largely ignored by Post Keynesians and that are consistent with Post Keynesian monetary theory.

DOI identifier: 10.1080/09538250120055159
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