A History of Post Keynesian Economics Since 1936This is a unique, comprehensive and international history of the post Keynesian approach to economics since 1936. The author locates the origins of post Keynesian economics in the conflicting initial interpretations of Keynes's General Theory and in the complementary work of Michal Kalecki. The book begins by focusing on Cambridge Growth, Distribution and Capital theory and early post Keynesian thought in the US. The failure of post Keynesian theory to supplant the neo-classical paradigm in the 1970s is also discussed, along with an overview of post Keynesian thinking in other countries. The book then deals with the search for coherence between various strands of post Keynesian thought and other schools of economic thought. The author concludes by assessing the progress made by post Keynesian economics since 1936 and considers several possible alternative futures for the post Keynesians. Historians of economic thought as well as post Keynesian and other heterodox economists will warmly welcome A History of Post Keynesian Economics. |
From inside the book
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... EQUILIBRIUM Perhaps the single most important difference between Post Keynesian and neoclassical economists is their treatment of equilibrium . For neoclassicals , equilibrium is the natural state of affairs , an almost inexorable ...
... EQUILIBRIUM As Samuelson had suggested , the assumption of ergodicity was essential to mainstream equilibrium analysis . Thus its rejection reinforced Post Keynesian criticism of equilibrium theorizing , which was already well ...
... equilibrium unemployment rate is a variable that tends to track the actual rate , not a constant that is ' ground out , ' in Friedman's famous words , ' by the Walrasian system of general equilibrium equations ' ( Friedman , 1968 , p ...
Contents
Introduction | 1 |
First reactions to The General Theory | 12 |
An economist from Poland | 35 |
Copyright | |
13 other sections not shown