Re: Creditary Economics (CE)

[Bruce McFarling <ecbm@xxxxxxxxxxxxxxxxxxx>]

Oops, I forgot to cite Sheila Dow's work ...
the figure and accompanying explanation that
I referred to are in the second volume of
"Second Edition of _The General Theory_".

Its a demand and supply for credit in the top
panel, and the volume of credit determines the
money supply for a conventional GT-Keynesian money
demand and supply diagram in the bottom panel,
except of course in the bottom panel the vertical
axis is the mark-up of rates on, IIRC debt instruments
in wholesale markets over interest rates on money
held on deposit (the payment of those interest rates
on money on deposit being one of the institutional
changes since Keynes was writing in the 30's).


--
Dr. Bruce R. McFarling, PhD
Bus. Office 1.72 -- (02) 4348-4078
School of Business
Faculty of the Central Coast
Newcastle University, Ourimbah