Foundations of Post-Keynesian Economic AnalysisThis innovative book demonstrates that it is possible to construct a coherent alternative to neoclassical economics based on the contributions of post Keynesian and Kaleckian economists. It identifies elements from the non-orthodox traditions, in particular from the neo-Ricardian school, that can be welded into a convincing alternative theoretical framework. The building blocks of this synthesis are the non-neo-classical microeconomic foundations of the theory of choice and of the firm. By emphasizing the consequences of a world characterized by true uncertainty and oligopolistic dominance, Marc Lavoie extends short-period paradoxes to the analysis of the long period, and bases these macroeconomic results on microeconomic foundations. |
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Page 124
... ( Kaldor , 1970a , p . 4 ) The manufacturing sector is the archetypal case of fix - price market . . . In markets of this type uncertainties concerning the future growth of demand mainly affect the degree of utilization of capacity ; it ...
... ( Kaldor , 1970a , p . 4 ) The manufacturing sector is the archetypal case of fix - price market . . . In markets of this type uncertainties concerning the future growth of demand mainly affect the degree of utilization of capacity ; it ...
Page 186
... ( Kaldor , 1982a , p . 76 ) . We have come back full circle : the money supply is determined by the demand for bank loans , even if the central bank does not accommodate . The Power of the Central Bank The lesson to be drawn from the ...
... ( Kaldor , 1982a , p . 76 ) . We have come back full circle : the money supply is determined by the demand for bank loans , even if the central bank does not accommodate . The Power of the Central Bank The lesson to be drawn from the ...
Page 434
... Kaldor , N. ( 1934 ) , ' The equilibrium of the firm ' , Economic Journal , 44 , March , 60-76 . Kaldor , N. ( 1939 ) , ' Speculation and economic stability ' , Review of Economic Studies , 7 , October , 1-27 . Kaldor , N. ( 1956 ) ...
... Kaldor , N. ( 1934 ) , ' The equilibrium of the firm ' , Economic Journal , 44 , March , 60-76 . Kaldor , N. ( 1939 ) , ' Speculation and economic stability ' , Review of Economic Studies , 7 , October , 1-27 . Kaldor , N. ( 1956 ) ...
Contents
Credit and Money | 153 |
Effective Demand and Employment | 217 |
Accumulation and Capacity | 282 |
Copyright | |
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actual rate aggregate demand analysis assumed base money behaviour borrow Cambridge capacity utilization capital central bank changes Chapter commercial banks consumers consumption cost-plus pricing deposits economists effective demand effective demand curve Eichner employment endogenous equal equation equilibrium exogenous Figure firms full capacity given higher rate households impact income increase induce interest rates investment function Kaldor Kalecki Kaleckian model Keynes liquidity preference loans long run macroeconomic margin of profit marginal costs needs neo-Ricardian neoclassical economics neoclassical theory normal rate overhead labour paradox of thrift parameters positive Post Keynesian Economics post-classical post-Keynesian post-Keynesian theory procedural rationality profits cost curve propensity to save rate of accumulation rate of capacity rate of growth rate of interest rate of profit rate of return rate of utilization ratio real wage rate reserves result Robinson sector share of profits standard rate target target-return pricing technical progress tion uncertainty utilization of capacity workers