Introduction to Post-Keynesian Economics

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.

Marc Lavoie's superb Introduction to Post-Keynesian Economics will be accessible to students...the book remains highly readable and covers many references for further readings. It will also be extremely valuable for researchers who are not yet familiar with Post-Keynesian methodology, microeconomics, monetary and macroeconomics, and the approaches to distribution and growth of this school of thought.' - Intervention - European Journal of Economics and Economic Policies

Autorentext
MARC LAVOIE is Professor in the Department of Economics at the University of Ottawa, Canada. He has been Visiting Professor at Curtin University, Australia, and at the universities of Bordeaux, Grenoble, Lille, Limoges, Nice, Rennes, Paris-1 and Paris-13. His main research areas are in post-Keynesian and monetary economics. He has written over 130 journal articles or book chapters as well as authoring Foundations of Post-Keynesian Economics and co-edited Central Banking in the Modern World.

Inhalt
List of Figures List of Tables List of Boxes Preface to the English Edition Introduction PART 1: THE POST-KEYNESIAN HETERODOXY Who are the Post-Keynesians? The Characteristics of Heterodox Economics The Essential Characteristics of Post-Keynesian Economics The Various Strands of Post-Keynesian Economics PART 2: HETERODOX MICROECONOMICS Consumer Choice Theory Oligopolistic Markets and the Objectives of Firms The Shape of Cost Curves Price Setting The Determinants of the Costing Margin Conseuqences for Macroeconomic Theory PART 3: A MACROECONOMIC MONETARY CIRCUIT Main Characteristics of Post-Keynesian Monetary Analysis The Relationship between Commerical Banks and the Central Bank The Relationship between Banks and Firms A Systemic View of the Monetary Economy PART 4: THE SHORT-PERIOD: EFFECTIVE DEMAND AND THE LABOUR MARKET Effective Demand and its Components The Kaleckian Model Further Developments of the Kaleckian Model PART 5: THE LONG-PERIOD: OLD AND NEW GROWTH MODELS The Old Post-Keynesian Growth Models The New Kaleckian Models Extensions and Criticism of the Kaleckian Model PART 6: GENERAL CONCLUSION Bibliography Index