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 199
... increased during the boom preceding the Great Recession . On the other hand , Niggle ( 1989 ) shows that debt ratios of non - financial corporations in the USA generally increase during the upswing , but that a substantial part of this ...
... increased during the boom preceding the Great Recession . On the other hand , Niggle ( 1989 ) shows that debt ratios of non - financial corporations in the USA generally increase during the upswing , but that a substantial part of this ...
Page 272
... increase in the target rate of return , induces a fall in the actual rate of utilization of capacity . It is also obvious that du / da and du / du , are always positive . An increase in autonomous expenditures or an increase in the ...
... increase in the target rate of return , induces a fall in the actual rate of utilization of capacity . It is also obvious that du / da and du / du , are always positive . An increase in autonomous expenditures or an increase in the ...
Page 313
... increase in the rate of utilization of capacity and in the rate of profit . We also see in the bottom part of the graph that an increase in the relative budget deficit induces a higher rate of growth . An increase in the autonomous ...
... increase in the rate of utilization of capacity and in the rate of profit . We also see in the bottom part of the graph that an increase in the relative budget deficit induces a higher rate of growth . An increase in the autonomous ...
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