Macroeconomics After Kalecki And Keynes
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Macroeconomics after Kalecki and Keynes
Author: Eckhard Hein
language: en
Publisher: Edward Elgar Publishing
Release Date: 2023-01-17
Presenting an in-depth overview of the foundations and developments of post-Keynesian macroeconomics since Kalecki and Keynes, this timely book develops a comprehensive post-Keynesian macroeconomic model with the respective macroeconomic policy mix for achieving non-inflationary full employment. Linking the short-run model to long-run distribution and growth theories, the theoretical approach is also applied to current research on macroeconomic regimes in finance-dominated capitalism and on the macroeconomic challenges of the socio-ecological transformation.
A History of Post Keynesian Economics Since 1936
Author: John Edward King
language: en
Publisher: Edward Elgar Publishing
Release Date: 2002
The book begins by focusing on Cambridge Growth, Distribution and Capital theory and early post Keynesian thought in the USA. The failure of post-Keynesian theory to supplant the neo-classical paradigm inthe 1970s is also discussed, alongwith 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.
The General Theory of Employment, Interest and Money
Author: John Maynard Keynes
language: en
Publisher: Atlantic Publishers & Dist
Release Date: 2016-04
John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning