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.

The Elgar Companion to Post Keynesian Economics is a comprehensive guide to economic analyses in the tradition of Keynes and the so-called Cambridge (UK) school of economics. The coverage of themes and different theoretical orientations within Post Keynesianism is remarkable and the quality of the various entries is impressive. John Kings invisible hand is responsible for a minimum of overlaps and an optimum in quality and comprehensibility. This book has already proved to be of interest to a wide range of economists and can be expected to continue to do so for a long time to come. Heinz D. Kurz, University of Graz, Austria This thoroughly revised and updated second edition provides a comprehensive guide to Post Keynesian methodology, theory and policy prescriptions. The Companion reflects the challenges posed by the global financial crisis that began in 2008 and by the consolidation of the New Neoclassical Synthesis in macroeconomic theory. There are 41 entirely new entries, marking the emergence of a new generation of Post Keynesian scholars. The central issues that were dealt with in the first edition remain at the core of the book, but much more attention is paid in this second edition to financial markets, to Post Keynesian economics outside its traditional Anglo-American heartland and to gender issues and environmental policy. Including major theoretical, methodological and policy issues in Post Keynesian economics, this enriching Companion will strongly appeal to postgraduate and advanced undergraduate students in economics as well as related social science disciplines including international political economy, international relations, politics, public policy and sociology.

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.

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

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.

This book argues that mainstream economics, with its present methodological approach, is limited in its ability to analyze and develop adequate public policy to deal with environmental problems and sustainable development. Each chapter provides major insights into many of today s environmental problems such as global warming and sustainable growth. Building on the strengths and insights of Post Keynesian and ecological economics and incorporating cutting-edge work in economic complexity, bounded rationality and socio-economic dynamics, this book provides an interdisciplinary approach to deal with a broad range of environmental concerns. The contributors show how and where the two traditions share common ground concerning environmental problems and shed light on how the two schools can learn from one another. The book will be of great value to Post Keynesian and ecological economists as well as to those interested in new approaches to important global environmental issues.

Eichner's classic A Guide to Post-Keynesian Economics (1978) is still seen as the definitive staging post for those wishing to familiarise themselves with the Post-Keynesian School. This book brings the story up-to-date.Of all the subgroups within heterodox economics, Post-Keynesianism has provided the most convincing alternative to mainstream theo

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 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.

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.