Post-Keynesian EconomicsMalcolm C. Sawyer Post-Keynesian Economics denotes a loose grouping of economists who regard the insights of Keynes and Kalecki as the starting point for both a critique of conventional equilibrium analysis and the basis for a new macroeconomics based on the investment behaviour of the class of individuals who control capital and their savings behaviour as contrasted with that of workers. Among the major figures in this school of thought have been Joan Robinson, Nicholas Kaldor, Sidney Weintraub and Paul Davidson. |
Contents
N Kaldor and J Trevithick 1981 A Keynesian Perspective | 101 |
S Weintraub 1979 Generalizing Kalecki and Simplifying | 145 |
R L Hall and C J Hitch 1939 Price Theory and Business | 205 |
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Common terms and phrases
aggregate analysis assumed assumption bank behaviour Cambridge capacity utilization capital capitalists coefficient commodities competition constant consumption decisions degree of monopoly demand curve determined ECONOMIC JOURNAL effective demand Eichner elasticity equation equilibrium excess capacity exogenous expectations extra-money factors finance firms follows full capacity full employment function given growth rate Harrod higher hypothesis important income distribution incomes policy increase industry inflation interest rates investment Joan Robinson JOURNAL OF POST Kaldor Kalecki Keynes Keynes's Kregel labour marginal cost mark-up Michal Kalecki monetarist monetary money stock money supply money wages neoclassical normal oligopolistic oligopoly output period Phillips curve POST KEYNESIAN ECONOMICS post-Keynesian theory price level production profits curve propensity rate of growth rate of profit ratio real wages realization curve result rise savings sector shift short-period taxes technical progress tion uncertainty utilisation variables wage rates wage share workers