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. |
From inside the book
Results 1-3 of 53
Page 275
... sector model . This was mainly because the introduction of a second sector would have complicated the analysis without adding much comprehension . It is now time to sketch the way in which the presence of two sectors changes the ...
... sector model . This was mainly because the introduction of a second sector would have complicated the analysis without adding much comprehension . It is now time to sketch the way in which the presence of two sectors changes the ...
Page 277
... sector . Again , with the previous notations and the appropriate subscripts , we have : u ; = a1 / 9fci The overall profits in the investment sector are given by : Π i ПI1 = pa1- w¡L ; ( 5.70 ) ( 5.71 ) Making use of equations ( 5.29 ) ...
... sector . Again , with the previous notations and the appropriate subscripts , we have : u ; = a1 / 9fci The overall profits in the investment sector are given by : Π i ПI1 = pa1- w¡L ; ( 5.70 ) ( 5.71 ) Making use of equations ( 5.29 ) ...
Page 278
... sector is higher the greater the level of autonomous consumption expenditures ( a ) and the higher the rate of utilization of capacity in the investment sector . Increments in the requirements of permanent staff also increase the rate ...
... sector is higher the greater the level of autonomous consumption expenditures ( a ) and the higher the rate of utilization of capacity in the investment sector . Increments in the requirements of permanent staff also increase the rate ...
Contents
Credit and Money | 153 |
Effective Demand and Employment | 217 |
Accumulation and Capacity | 282 |
Copyright | |
4 other sections not shown
Other editions - View all
Common terms and phrases
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