## 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 58

Page 37

Another way to present this is to say that, since the neo-Ricardians have shown

that there can be unstable

standard supply and demand analysis, and since we observe no such blatant

instability ...

Another way to present this is to say that, since the neo-Ricardians have shown

that there can be unstable

**equilibria**, looking at it from the point of view ofstandard supply and demand analysis, and since we observe no such blatant

instability ...

Page 39

As can be seen, there are several

point A would initially increase excess demand to point B. The only constraints on

the shape of the function is that, for some high price, excess demand should be ...

As can be seen, there are several

**equilibria**, and increasing the price when atpoint A would initially increase excess demand to point B. The only constraints on

the shape of the function is that, for some high price, excess demand should be ...

Page 288

We may then speak of an

corresponds in Figure 6.1 to this value of the rate of profit is called by Robinson

the desired rate of growth. This rate of growth is such that the expectations of the

...

We may then speak of an

**equilibrium**rate of profit. The rate of growth g” whichcorresponds in Figure 6.1 to this value of the rate of profit is called by Robinson

the desired rate of growth. This rate of growth is such that the expectations of the

...

### What people are saying - Write a review

We haven't found any reviews in the usual places.

### Contents

Theory of Choice | 42 |

Theory of the Firm | 94 |

Credit and Money | 149 |

Copyright | |

4 other sections not shown

### Other editions - View all

### Common terms and phrases

actual rate aggregate demand analysis assumed base money behaviour borrow capacity utilization capital central bank changes Chapter commercial banks consumers consumption cost-plus pricing deposits economists effective demand effective demand curve Eichner endogenous equal equation equilibrium exogenous Figure firms full capacity given higher rate households impact income income effects increase induce interest rates investment function Kaldor Kalecki Kaleckian model Keynes Keynesian liquidity preference loans long run macroeconomic margin of profit marginal costs model of growth needs neo-Ricardians neoclassical economics neoclassical theory normal rate overhead labour paradox of thrift parameters positive post-classical post-Keynesian economics 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-return pricing technical progress tion uncertainty utilization of capacity workers