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.

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