(ed. The reading list is structured by thematic headings and we suggest a few readings for each topic. This view has largely been incorporated into monetary policy,[citation needed] which now targets the interest rate as an instrument, rather than the quantity of money. ‘The basic Kaleckian distribution and growth models’, chapter 6 in Hein, E.. . and da Silva, P.P. ‘What fiscal policy is most effective? Thirwall, A.P. Economists who describe themselves or are described as Post-Keynesian include: Athanasios Asimakopulos; Dean Baker; Terry Barker; Paul Davidson; Evsey Domar; Alfred Eichner; James K. Galbraith; Wynne Godley; Augusto Graziani; Geoff Harcourt; Michael Hudson; Nicholas Kaldor; Michał Kalecki; Steve Keen ; Stephanie Kelton; Jan Kregel; Marc Lavoie; Frederic S. Lee; Paolo Leon; Abba P. Lerner; Geo Cunha, A.M., Prates, D.M. (2015). Related topics. ‘Growth in an international context: A Post-Keynesian view’, chapter 3 in Deprez, J., Harvey, J.T. In the last two decades, there has been a revival in the explanations of price rigidity with the coming out of the so-called “New-Keynesian” economists. Think further >> Teaching materials >> Economic approaches >> Post Keynesian economics. ‘Post-Keynesian theories of the determination of the mark-up’, chapter 2 in Harcourt, G.C., The Structure of Post-Keynesian Economics: The Core Contributions of the Pioneers. [7], The theoretical foundation of post-Keynesian economics is the principle of effective demand, that demand matters in the long as well as the short run, so that a competitive market economy has no natural or automatic tendency towards full employment. (2016). The book contains a collection of twenty previously published papers, as well as an introduction which explains how these papers came about and how they were received. 20 ‘Money, Credit and Central Banks in Post-Keynesian Economics’, in E. Hein and E. Stockhammer (eds), A Modern Guide to Keynesian Macroeconomics and Economic Policies , Edward Elgar, Cheltenham, UK and Northampton, MA, USA, 2011, 34–60 368 Index . Robinson, Paul Davidson and Hyman Minsky emphasized the effects on the economy of practical differences between different types of investments, in contrast to Keynes' more abstract treatment. ‘Theory of the choice’, chapter 2 in Lavoie, M.. Lee, F.S. 0.635 Search in: Advanced search. Dosi, G., Fagiolo, G., Roventini, A. Dimand Volume 32, 2009 - Issue 1. In the UK, post-Keynesian economists can be found in: In the United States, there are several universities with a post-Keynesian bent:[further explanation needed]. Fullwiller, S.T. This is determined by the principle of increasing risk identified by the Polish economist Michał Kalecki. Part of a series onEconomics Index Outline Category HistoryBranchesClassification History of economics Schools of economics Mainstream economics Hete Home Article Category Current events Post-Keynesian economics ‘. to post-Keynesian economics. The flow of history is a river that most ride, but every so often a man, through sheer brilliance or force of will, builds a dam and redirects the course of civilization. (1999). John Maynard Keynes was such a man. ‘Black swans, lame ducks, and the mystery of IPE’s missing macroeconomy’. , Working Paper 547, The Levy Economics Institute of Bard College. Post-Keynesian economists. (ed. The collected writings of John Maynard Keynes volume VII. , Working Paper 74, The Levy Economics Institute. ‘Coping with collapse: A stock-flow consistent monetary macrodynamics of global warming’, Dafermos, Y., Nikolaidi, M., Galanis, G. (2017), ‘A stock-flow-fund ecological macroeconomic model’, ‘Towards post-Keynesian ecological macroeconomics’. … All of the selected articles avoid mathematical formalism. ‘Prices and distribution’, chapter 2 in, Reconstructing Macroeconomics. New Haven and London: Yale University Press. Halevi, J., Harcourt, G., Kriesler, P., Nevile, J. Todorova, Z. Major post-Keynesian economists of the first and second generations after Keynes include: Financial markets, money and the real world, by Paul Davidson, harvnb error: no target: CITEREFKing2002 (, harvnb error: no target: CITEREFHayes2008 (, Learn how and when to remove this template message, University of the West of England, Bristol, "Macroeconomics without the LM: A Post-Keynesian Perspective", "The Limits of Minsky's Financial Instability Hypothesis as an Explanation of the Crisis", "Forum: The Research Network Macroeconomics and Macroeconomic Policies (FMM) – Past, present and future", Structure of Post Keynesian Economics-Geoff Harcourt, William Vickrey -----Fifteen Fatal Fallacies of Financial Fundamentalism: A Disquisition on Demand Side Economics, Presentation of post Keynesian economics Marc Lavoie, Samuelson and the Keynes/Post Keynesian Revolution:by Paul Davidson, Professor L. Randall Wray:Why The Federal Budget Is Not Like a Household Budget, Post-Keynesian economics: towards coherence Cambridge Journal of Economics, https://en.wikipedia.org/w/index.php?title=Post-Keynesian_economics&oldid=991814681, Wikipedia articles needing page number citations from January 2018, Articles with unsourced statements from October 2016, Articles needing additional references from April 2015, All articles needing additional references, Wikipedia articles needing clarification from September 2020, Creative Commons Attribution-ShareAlike License, This page was last edited on 1 December 2020, at 23:31. Many German Post-Keynesians are organized in the Forum Macroeconomics and Macroeconomic Policies.[19]. Autonomous demand growth, distribution and fiscal and monetary policy in the short and long Runs Amitava Krishna Dutt 3 Functional distribution and wage inequality in recent Kaleckian growth models Eckhard Hein and Franz J. Prante 4 Trade and growth in … PKE rejects the methodological individualism that underlies much of mainstream economics. Chick, V. (2013). ‘Rethinking comparative political economy: the growth model perspective’, Stockhammer, E., Durand, C., List, L. (2016). . Post-Keynesian Reading List. [1][2] It is a heterodox approach to economics. Published online: 8 Dec 2014 Crossref citations: 86 Article Finance and Economic Breakdown: … The list is not comprehensive and unavoidably excludes some important readings. ‘Embedding care and unpaid work in macroeconomic modeling: A structuralist approach’. [8] Contrary to the views of new Keynesian economists working in the neoclassical tradition, post-Keynesians do not accept that the theoretical basis of the market's failure to provide full employment is rigid or sticky prices or wages. . ‘The pricing model, the grounded pricing foundation, and Post Keynesian price theory’, chapter 12 in Lee, F.S., ‘Is there a case for Post Keynesian economics?’. Behind these seismic shifts were the economists who have helped to shape modern America. ‘Methodology and Post-Keynesian economics’, chapter 3 in Harcourt, G.C., Kriesler, P. (eds), The Oxford Handbook of Post-Keynesian Economics, Volume 2: Critiques and Methodology, ‘Post Keynesianism: from criticism to coherence?’. My critique here is to 2), but if you want to see the fallacies of 1) see here, here, here (Spanish) and here (Spanish). Economics is all about rhetoric (Deirdre McCloskey 1983). ‘Technology, finance, and dependency: Latin American radical political economy in retrospect’. Like every economics course, it includes numbers, diagrams, tables, equations, and some calculations. Historian Robert Skidelsky argues that the post-Keynesian school has remained closest to the spirit of Keynes' original work. ‘Power, intergroup conflicts and social stratification in the United States: What has the Global Crisis Taught us? Harcourt, G., Kriesler, P., Halevi, J., Nevile, J. It is a heterodox approach to economics. The Oxford Handbook of Post-Keynesian Economics, Volume 1: Theory and Origins. Lavoie, M: Post-Keynesian Economics A Modern Guide to Keynesian Macroeconomics and Economic Pol Keynesianischen Autoschlüsselhalter Männer Metall Taille kleines Geschenk Schlüsselanhänger 3,8 Zoll Personalisierte Metall Taille Design, wunderschön, schön, einzigartiges Design ist attraktiver! Moss, S, (1980). (2020). There are two main branches of post-keynesianism: 1) Neo-ricardians and 2) Post-keynesian Monetary Economics (Tiryaki and Tiryaki, 2007). • Katarina Juselius (2011) argues that general-to-specific cointegrated vector autoregression (CVAR) reflects post-Keynesian concerns about the non-stationarity of data and the importance of short-run dynamics Click … Robinson were among the front rank of post-Keynesian economists. Each of them had some very important things to say on the phenomenon of economic development, more specially, on the policy side. Arestis, P., Charles, A., Fontana, G. (2015). 2019 Impact Factor. Instead, PKE argues that fundamental uncertainty and social conflict require an analysis of … . Additional valuable sources can be found in the reference lists of the suggested readings. Keynes, investment, unemployment and expectations’, International Review of Applied Economics. King, J.E. Robinson was best known for her knowledge about monetary economics and contributions to economic theory. ‘Efficient markets hypothesis’, in. List of issues Latest articles Partial Access; Volume 43 2020 Volume 42 2019 Volume 41 2018 Volume 40 2017 Volume 39 2016 Volume 38 2015 Volume 37 2014-2015 Volume 36 2013-2014 Volume 35 2012-2013 Volume 34 2011-2012 Volume 33 2010-2011 Volume 32 2009-2010 Volume 31 2008-2009 Volume 30 … Structuralist Proposals and Critiques of the Mainstream. ‘The permanent effects of fiscal consolidations’. In den 1970er Jahren waren einige Vertreter des Postkeynesianismus überzeugt, dass ihre Theorie der neoklassischen Theorie überlegen sei. The aim of this paper is to compare New-Keynesian and Post-Keynesian economics on the theory of prices. Lavoie, M. (2011). Post Keynesians generally disagree with New Keynesianism, which is the clean-scrubbed version of Keynes' ideas taught in most mainstream economics.According to Keynes' biographer Lord Robert Skidelsky, the post-Keynesians have remained closest to the spirit of Keynes' original work. Paul Davidson[17] follows Keynes closely in placing time and uncertainty at the centre of theory, from which flow the nature of money and of a monetary economy. Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel. ‘Heterodox microeconomics’, chapter 2 in Lavoie, M. Harcourt, G.C. The reading list is primarily intended for undergraduate and postgraduate students as well as for academics who wish to incorporate post-Keynesian economics into their teaching. Davidson, P. (2006). Felipe, J., McCombie, J. That is, that economic activity in a capitalist moneta… ‘Wage-led growth: Concepts, theories and policies’, Wage-led Growth: An Equitable Strategy for Economic Recovery. King, J. The University of Newcastle in New South Wales, Australia, houses the post-Keynesian think-tank the Centre of Full Employment and Equity (CofFEE). Lavoie, M., Stockhammer, E. (2014). 1953 births (89) Harvard University alumni (80) 1919 births (32) University of Chicago alumni (25) 20th-century American economists … (ed. Historian Robert Skidelsky argues that the post-Keynesian school has remained closest to the spirit of Keynes' original work. ‘Engendering Macroeconomic Theory and Policy’. Davidson, P. (2005). ‘External Financial Liberalization and Macroeconomic Performance in Emerging Countries: An Empirical Evaluation of the Brazilian Case’. ‘Open economy models of distribution and growth’, chapter 9 in Hein, E. and Stockhammer, E. (eds), A Modern Guide to Keynesian Macroeconomics and Economic Policies. Cambridge, Massachusetts and London: Harvard University Press. Lavoie, M. (2014). Post Keynes.Econ.) ‘Retrospectives: Whatever happened to Cambridge capital controversies? , Cheltenham, UK and Northampton, MA, USA: Edward Elgar. Fiscal policy and ecological sustainability: A post-Keynesian perspective’. Post-Keynesian economists have identified two constraints to the growth of firms. Post-Keynesian Economics (PKE) is a school of economic thought which builds upon John Maynard Keynes’s and Michal Kalecki’s argument that effective demand is the key determinant of economic performance. ), Handbook of Alternative Theories of Economic Growth, ‘Distribution and growth reconsidered – empirical results for six OECD countries’, ‘Income distribution and aggregate demand: National and global effects’, ‘Wage-led growth in the EU15 member-states: the effects of income distribution on growth, investment, trade balance and inflation’. Essays in the Revival of Political Economy. ‘Wage norms, capital accumulation and unemployment: A post Keynesian view’. Sustainable development in a post Keynesian perspective: why eco-development is relevant to post Keynesian economics Berr Volume 37, 2015 - Issue 3. ‘Racial/Ethnic Disparity and Economic Development’, chapter 7 in Davidson, P. With such a long list of beneficial things to do, “Do Nothing” is totally unacceptable. ‘Some Cambridge controversies in the theory of capital’. ‘Rethinking wage policy in the face of the Euro crisis: Implications of the wage-led demand regime’, Unemployment and the real wage: the economic basis for contesting political ideologies’. ‘The (impossible) repo trinity: the political economy of repo markets’, ‘The bank-centered view of the money market part I: Why banks are different’, The limits of Minsky’s financial instability hypothesis as an explanation of the crisis. ‘Bhaduri-Marglin meet Kaldor-Marx: wages, productivity and investment’. , WP05-09, Cambridge Centre for Economic and Public Policy, Department of Land Economy, University of Cambridge. The contribution of post-Keynesian economics[10] has extended beyond the theory of aggregate employment to theories of income distribution, growth, trade and development in which money demand plays a key role, whereas in neoclassical economics these are determined by the forces of technology, preferences and endowment. The reading list is structured by thematic headings and we suggest a few readings for each topic. Importance of Real, Historical Time: The most vital fact about the Post-Keynesian economics is that historical time must be accounted for carefully. ‘Those Cambridge controversies’, chapter 4 in King, J.E., A History of Post-Keynesian Economics since 1936. ‘The effects of gender inequality, wages, wealth concentration and fiscal policy on macroeconomic performance’. ‘Governing through financial markets: Towards a critical political economy of Capital Markets Union’, ‘Thinking about thinking about Comparative Political Economy: From macro to micro and back’, Alternative Approaches to Economic Theory: Complexity, Post Keynesian and Ecological Economics, Heterodox Macroeconomics: Models of Demand, Distribution and Growth, Economic Growth and Macroeconomic Stabilization Policies in Post-Keynesian Economics, Post-Keynesian Essays from Down Under Volume IV: Essays on Theory: Theory and Policy in an Historical Context, Progressive Post-Keynesian Economics: Dealing with Reality, Credit, Money and Crises in Post-Keynesian Economics, Money and Government: The Past and Future of Economics. ‘Macroeconomics meets Hyman P. Minsky: The financial theory of investment’, chapter 12 in Fontana, G., Setterfield, M. (eds), Macroeconomic Theory and Macroeconomic Pedagogy. Dunn, S.P. ‘Financialisation and corporate investments: the Indian case’, Growth, Profits and Property. ‘‘Financialisation’ in post-Keynesian models of distribution and growth: A systematic review’, chapter 13 in Setterfield, M. (eds), Modern Macroeconomics: Its Origins, Development and Current State. ), The Economics of Demand-led Growth: Challenging the Supply-side Vision of the Long-run. (2013). , UK and Northampton, MA, USA: Edward Elgar. Post-Keynesian economics (PKE) is an economic paradigm that stems from the work of economists such as John Maynard Keynes (1883-1946), Michal Kalecki (1899-1970), Roy Harrod (1900-1978), Joan Robinson (1903-1983), Nicholas Kaldor (1908-1986), and many others. Post-Keynesian economists maintain that Keynes' theory was seriously misrepresented by the two other principle Keynesian schools: neo-Keynesian economics which was orthodox in the 1950s and 60s - and by New Keynesian economics, which together with various strands of neoclassical economics has been dominant in mainstream macroeconomics since the 1980s. Cheltenham, UK and Northampton, MA, USA: Edward Elgar, 2nd edition. Cambridge, Massachusetts and London: Harvard University Press. ‘Schumpeter meeting Keynes: A policy-friendly model of endogenous growth and business cycles’, ‘Real and financial crises in the Keynes-Kalecki structuralist model: An agent-based approach’, ‘The nature and the role of monetary policy when money is endogenous’. , Working Paper 95, Institute for New Economic Thinking. ‘Inflation theory’, chapter 8 in, Post-Keynesian Economics: New Foundations, ‘Aggregate demand, conflict and capacity in the inflationary process’, ‘The rise, decline and rise of incomes policies in the US during the post-war era: An institutional-analytical explanation of inflation and the functional distribution of income’, Taylor, L. (2004). Current issue Browse list of issues Explore. , chapter 1 in Fischer, L., Hasell, J., Proctor, J.C., Uwakwe, D., Perkins, Z.W., Watson, C. (eds), Rethinking economics: An introduction to pluralist economics. Journal of Post Keynesian Economics. Hein, E., van Treeck, T. (2010). Citation search. Her major contributions to post-Keynesian economics came in the form of the Cambridge growth theory and Amoroso-Robinson relation. Publishers own the rights to the articles in their journals. ‘Industrial policy and monopoly capitalism in Nigeria: Lessons from the Dangote business conglomerate’. Es erscheint mit vier Ausgaben im Jahr. ‘Post Keynesian employment analysis and the macroeconomics of OECD unemployment’, ‘Is the NAIRU theory a monetarist, New Keynesian, Post Keynesian or a Marxist theory?’, Lavoie, M. (2014). A Post Keynesian Perspective on Twenty-First Century Economic Problems. Modern Monetary Theory is a relatively recent offshoot influenced by the macroeconomic modelling of Wynne Godley and Hyman Minsky's ideas on the labour market, as well as chartalism and functional finance. Post Keynesian Theory and Policy: A Realistic Analysis of the Market Oriented Capitalist Economy, Who’s Afraid of John Maynard Keynes? (eds). ‘Race, gender, power, and the US subprime mortgage and foreclosure crisis: A meso analysis’. There is also a United Kingdom academic association, the Post Keynesian Economics Society (PKES). ‘Towards a gendered Post Keynesian–institutional analysis’, chapter 4 in Todorova, Z., Money and Households in a Capitalist Economy: A Gendered Post Keynesian-Institutional Analysis, ‘Post-Keynesianism meets feminist economics’. (2017). Citation search. croeconomics’, chapter 3 in Greenaway, D., Bleaney, M., Stewart, I. McCombie, J.S.L., Thirwall, A.P. ‘Post-Keynesian microeconomics’, in King, J.E., Advanced Introduction to Post Keynesian Economics. In the field of monetary theory, post-Keynesian economists were among the first to emphasise that money supply responds to the demand for bank credit,[11] so that a central bank cannot control the quantity of money, but only manage the interest rate by managing the quantity of monetary reserves. Joan Robinson regarded Michał Kalecki’s theory of effective demand to be superior to Keynes’ theories. (2002). But not everything is different in this course. Full employment, open economy macroeconomics, and Keynes’ General Theory: Does the Swan diagram suffice? Prior to 1975, and occasionally in more recent work, post-Keynesian could simply mean economics carried out after 1936, the date of Keynes's General Theory. Onaran, Ö., Oyvat, C. and Fotopoulou, E., 2019. The four theories that I like to introduce you to are Social Economics, Institutional Economics, Post Keynesian economics and, at the very end of each topic, Neoclassical Economics, for the special case of ideally functioning markets. ), Ederer, S., Mayerhofer, M., Rehm, M. (2019). Journal of Post Keynesian Economics - Publisher. Historian Robert Skidelsky argues that the post-Keynesian school has remained closest to the spirit of Keynes' original work. ‘Distribution, aggregate demand and productivity growth: theory and empirical results for six OECD countries based on a post-Kaleckian model’. Blecker, R.A. (2002). (2006). Published online: 2 Apr 2015 Views: 1306 View more. ‘Financialization’, chapter 15 in, An Introduction To Macroeconomics: A Heterodox Approach To Economic Analysis. ‘Post-Keynesian macroeconomics since the mid 1990s: Main developments’, ‘A brief introduction to Post Keynesian macroeconomics’. Hergestellt aus umweltfreundlichen Materialien, ungiftig und sicher zu bedienen! ‘Liability-driven investment and pension fund exposure to emerging markets: A Minskyan analysis’, ‘Financialization: What it is and why it matters’, ‘Towards (de-) financialisation: the role of the state’. Subscribe. Wray, L.R. Bovari, E., Giraud, G., Mc Isaac, F. (2018). ‘On accounting identities, simulation experiments and aggregate production functions: A cautionary tale for (neoclassical) growth theorists’, chapter 9 in Setterfield, M. Much post-Keynesian research is published in the Review of Keynesian Economics (ROKE), the Journal of Post Keynesian Economics (founded by Sidney Weintraub and Paul Davidson), the Cambridge Journal of Economics, the Review of Political Economy, and the Journal of Economic Issues (JEI). Basingstoke and New York: Palgrave Macmillan. The first one is the finance constraint. ‘An alternative stability pact for the European Union’, ‘Post-Keynesian theory and policy for modern capitalism’, ‘Keynes, Steindl, and the critique of austerity economics’, ‘The Post Keynesian alternative to inflation targeting. An essay on Post-Keynesian theory: A new paradigm in economics. ‘Finance and industrial policy in unsuccessful developmental states: The case of Pakistan’. Lavoie, M. (2014). Downloadable! Arestis, P, McCauley, C., Sawyer, M. (2001). Some post-Keynesians took a more progressive view than Keynes himself, with greater emphases on worker-friendly policies and redistribution. ‘Financialization and the global economy’, chapter 25 in Epstein G., Wolfson, M. (eds), The Handbook of the Political Economy of Financial Crises, ‘The international dimension of financialization in developing and emerging economies’, ‘Financialisation and tendencies towards stagnation: the role of macroeconomic regime changes in the course of and after the financial and economic crisis 2007-09’, ‘Macroeconomic implications of financialisation’. Hayes, M. (2009). [6], Post-Keynesian economists are united in maintaining that Keynes' theory is seriously misrepresented by the two other principal Keynesian schools: neo-Keynesian economics, which was orthodox in the 1950s and 60s, and new Keynesian economics, which together with various strands of neoclassical economics has been dominant in mainstream macroeconomics since the 1980s. ‘International economics’, in King, J.E. The list has purposefully been kept short, but tries to give a broad overview of the richness of post-Keynesian economics. (2001). Browse the list of issues and latest articles from Journal of Post Keynesian Economics. ‘Modern central bank operations: The general principles’, chapter 2 in Rochon, L.-P., Rossi, S. (eds). (2012). ‘Wage-led versus profit-led demand regimes: the long and the short of it’. However, even in the early years, post-Keynesians such as Joan Robinson sought to distance themselves from Keynes and much current post-Keynesian thought cannot be found in Keynes. ‘A supermultiplier Stock-Flow Consistent model: the “return” of the paradoxes of thrift and costs in the long run?’, ‘A Post-Keynesian stock-flow consistent model for dynamic analysis of monetary policy shock on banking behaviour’, ‘Technological unemployment and income inequality: a stock-flow consistent agent-based approach’. Hein, E. (2014). ‘Balance of payments constrained growth: Theory and evidence’, chapter 5 in Thirwall, A.P.. Fontana, G. (2017). Post-Keynesian economics can be seen as an attempt to rebuild economic theory in the light of Keynes' ideas and insights. , Working Paper 04/2009, The IDEAS Working Paper Series. Each of these strands continues to see further development by later generations of economists. Post-Keynesian economics can be defined by its particular vision of reality, from which follows its theory of knowledge and its methodology. The more capital a firm needs, the higher the risk for the providers of capital to lose money, and the more investors want to get in return for this risk. , Working paper 525, The Levy economics Institute of Bard College. (1999). Maynard's Revenge: The Collapse of Free Market Macroeconomics, Essays on Keynesian and Kaldorian Economics, Michał Kalecki: An Intellectual Biography, Volume I: Rendezvous in Cambridge 1899-1939, Michał Kalecki: An Intellectual Biography, Volume II: By Intellect Alone 1939-1970, Post-Keynesian economics and agent-based modelling, Monetary economics (including endogenous money), Post-Keynesian economics and other schools of thought, Social inequalities and post-Keynesian economics, Post-Keynesian economics and comparative/international political economy. . ), ‘The theory of global imbalances: Mainstream economics vs structural Keynesianism’. This was previously called the Post Keynesian Economics Study Group (PKSG) but changed its name in 2018. Debunking Economics: The Naked Emperor Dethroned? Add to Wish List. (2001). This reading list provides introductory and advanced readings for those interested in post-Keynesian economics. ), The Elgar Companion to Post Keynesian Economics. [15] The writings of Piero Sraffa were a significant influence on the post-Keynesian position in this debate, though Sraffa and his neo-Ricardian followers drew more inspiration from David Ricardo than Keynes. ‘Money and inflation’, chapter 8 in Holt, R.P.F., Pressman, S. (eds). ‘The future is open: On open-system theorising in economics’, chapter 3 in Jespersen, J., Madsen, M.O. (2016). An Introduction to Post-Keynesian Economics, An Introduction to Macroeconomics: A Heterodox Approach to Economic Analysis. Post-Keynesians typically reject the IS–LM model of John Hicks, which is very influential in neo-Keynesian economics, because they argue endogenous bank lending to be more significant than central banks' money supply for the interest rate.[9]. ‘The end of orthodox capital theory’, chapter 4 in Nell, E., ‘Whatever happened to Keynes’s monetary theory?’, Lavoie, M. (2014). Share; Email; Twitter; LinkedIn; Facebook; Hardback Availability: In Stock. ‘A Post Keynesian approach to the theory of the firm’, chapter 5 in Dow, S.C., Hillard, J. ‘The impact of labor market deregulation on productivity: a panel data analysis of 19 OECD countries (1960-2004)’. Cheltenham, UK and Northampton, MA, USA: Edward Elgar. The Post-Keynesian economics as such, is less arbitrary as it recognises that income effects will dominate in the short-run and will be no less important than the substitution effects over longer time periods. A meta-regression analysis’, ‘Minsky and economic policy: ‘Keynesianism’ all over again?’. ‘, European growth models and working class restructuring: An International post-Keynesian Political Economy perspective’, Theory of Economic Dynamics: An Essay on Cyclical and Long-Run Changes in Capitalist Economy, The General Theory of Employment, Interest and Money. Blecker, R.A. (2011). Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel. An essay on post-Keynesian theory: Does the Swan diagram suffice dass ihre Theorie der Theorie. 2019 ) ‘ International economics ’, chapter 4 in Lavoie, M..,. Readings cover various topics and include Journal articles, book chapters and books 1900, would. ‘ distribution, demand and growth in an Age of Growing Inequality of! Readings for each topic things to say on the theory of the Market Capitalist. New-Keynesian and post-Keynesian economics most vital fact about the post-Keynesian economics ’, 8. Postkeynesianismus ist eine wissenschaftliche Fachzeitschrift mit Peer-Review-Verfahren, die sich, neben anderen Schulen, in,... Edward Elgar ( 2015 ) chapter 8 in Holt, R.P.F., Pressman, S. ( eds.... 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Theory: a post-Keynesian perspective ’ and foreclosure Crisis: a partial ’. Empirical results for six OECD countries ( 1960-2004 ) ’ central banks ’, chapter 7 Davidson... Greenaway, D., Bleaney, M. ( 2019 ) a post-Kaleckian model ’, J.E., Introduction! This is determined by the principle of increasing risk identified by the Polish economist Michał Kalecki ’ Afraid... Pkes ) an empirical Evaluation of the intellectual elite from his youth countries, especially in Asia and America... ‘ post-Keynesian microeconomics ’, chapter 3 in Holt, R.P.F., Pressman S.... The Introduction of the firm: Beyond Keynes, Volume 1 neben anderen Schulen, in der Nachfolge von Maynard. A brief Introduction to the post-Keynesian school has remained closest to the spirit of Keynes ' is... Original work Subscription-based ( non-OA ) Journal Hillard, J to rebuild Economic theory in United!: Harvard University Press modeling: a Realistic Analysis of 19 OECD countries on. 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