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- Title
LIQUIDITY TRAP CLAPTRAP.
- Authors
Congdon, Tim
- Abstract
The article focuses on the criticisms on the alleged inadequacies of the financial system in Great Britain, such as the argument presented by economist John Maynard Keynes against the quantity theory of money. Keynes argued that the investors' balancing of money and fixed-interest bonds in their portfolios have perverse results for the wider economy. Paul Krugman of "The New York Times" also adds that the world's leading economies are in a so-called classic liquidity trap.
- Subjects
UNITED Kingdom; FINANCE; KEYNES, John Maynard, 1883-1946; QUANTITY theory of money; BONDS (Finance); KRUGMAN, Paul R., 1953-; LIQUIDITY (Economics)
- Publication
Economic Affairs, 2012, Vol 32, Issue 2, p101
- ISSN
0265-0665
- Publication type
Article
- DOI
10.1111/j.1468-0270.2012.002141.x