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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... supply and demand model that he de- scribed , but did not graph , in Chapter 3 of the General Theory . This model ... curve , drawn in price / quantity ( P , Q ) space rather than the aggregate proceeds / employment ( Z , N ) space specified ...
... supply curve that was vertical at a level fixed by the policy decisions of the central bank . How , then , could his name be invoked as the patron saint of the Post Keynesian theory of endogenous money ? One answer was to play down the ...
... supply of both commodity money and fiat money was exogenously determined , depend- ing on gold discoveries or central bank decisions ( via open market operations and the deposit multiplier ) . In each case the money supply curve was ...
Contents
Introduction | 1 |
First reactions to The General Theory | 12 |
An economist from Poland | 35 |
Copyright | |
13 other sections not shown