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The General Theory ch.15
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The General Theory ch.15

why do we have a "central bank" anyway

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Alex Williams
Dec 22, 2021
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Continuous Variation
Continuous Variation
The General Theory ch.15
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Chapter 15 is called “The Psychological and Business Incentives to Liquidity,” but might be better thought of as the chapter where Keynes really addresses the question “Why Does Central Banking Matter?”

We’ve largely avoided talking about central banks and monetary policy so far. When interest rates come up, they’ve been market determined, and when expan…

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