The Post Keynesian Approach To Economics

This major new book provides a coherent critique of the neo-classical synthesis together with a comprehensive and systematic introduction to the post Keynesian alternatives. Professor Arestis demonstrates that post Keynesian economics offers a challenge to conventional neoclassical economics. He argues that although post Keynesianism is not problem-free, it nevertheless offers a more satisfactory explanation of 'real' phenomena. The post Keynesian Approach to Economicsreveals the microfoundations of post Keynesian economics and describes how these theoretical propositions link up with the macrofoundations. In doing so, it demonstrates that money pricing, capital accumulation, growth and distribution are linked very closely together. The economic policy implications are discussed extensively.

This book shows how the realistic foundations and stylized facts of Post-Keynesian economics give rise to macroeconomic implications that are different from those of received wisdom with regards to employment, output growth, inflation and monetary theory, and offers an alternative to neoclassical economics and its free-market economic policies.

Does there exist an alternative to the “neoclassical synthesis” presented to students in introductory, intermediate, and advanced economics courses? The alternative is the post-Keynesian theory which is the subject of this book.

Contiene: The Grand Neo-clssical Synthesis; Refinements of the GNS; A critique of GNS economics; Post-keynesian economics; Theories of production, investment and distribution; Theories of prices and pricing; The theory of money wage determination; The theory of money, credit and finance; Growth Dynamics and bussines cycles theories; Economic policy implications.

Providing a comprehensive introduction to the post-Keynesian position on key issues confronting economists and public policy makers, this text reflects the changes that have occurred in post-Keynesian thought in recent years.

This text provides a history of the post Keynesian approach to economics since 1936. The author locates the origins of these economics in the conflicting interpretations of Keynes' General Theory and in the complementary work of Michael Kalecki.

How did economic ÒexpertsÓ worldwide fail to predict the financial crisis of 2007-2008? Eminent economist Paul Davidson discusses how mainstream economic theory may not be applicable to the world of experience. Post Keynesian theory is designed to be a

This visionary Research Handbook presents the state of the art in research on policy design. By conceiving policy design both as a theoretical and a methodological framework, it provides scholars and practitioners with guidance on understanding policy problems and devising accurate solutions.

This important text develops Keynes's analytical framework for both closed and open economies and provides policy guidance for the global economy of the 21st century. In particular, it deals with problems such as inflation,financial contagion, global unemployment, outsourcing, trade patterns, and developing an international financial system that encourages expansionary growth among all trading partners while avoiding sovereign debt problems. Using this textbook in macroeconomics courses will provide students with apragmatic insight that will be both useful and productive.

This book is devoted to the progression of Post-Keynesian economics, taking stock of the previous 10 years of persistent imbalances in many dimensions of macroeconomic ‘reality’. This has given inspiration to Post-Keynesian scholars to make innovative contributions in areas like methodology, macroeconomic modelling and teaching. One challenge discussed in several chapters is how to model a complex macro-system where microeconomic uncertainty is increasing? This aspect is elaborated in a number of contributions which focus on the role of the financial sector and financialization for macroeconomic disruptions. Additional chapters deal with teaching and the use of case-studies for a better understanding of the real world economy.