in 1996 under the auspices of the Post Keynesian Economics Study Group. They are the fourth and fifth in the series published by Edward Elgar for the Study Group. The essays in these volumes bear witness to the vitality and importance of Post Keynesian Economics in understanding the workings of the economy, both at the macroeconomic and the microeconomic level. Not only do these chapters demonstrate important shortcomings in the orthodox approach, but they also set out some challenging alternative approaches that promise to lead to a greater understanding of the operation of the market mechanism. The papers make important contributions to issues ranging from the philosophical and methodological foundations of economics to policy and performance. The Post Keynesian Study Group was established in 1988 with a grant from the Economic and Social Research Council and has flourished ever since. At present (2002), there are four meetings a year hosted by a number of 'old' and 'new' universities throughout Great Britain. These are afternoon sessions at which three or four papers are presented and provide a welcome opportunity for those working in the field to meet and discuss ideas, some of which are more or less complete, others of which are at a more early stage of preparation. Larger conferences, such as the one from which these two volumes are derived, are also held from time to time, including a conference specifically for postgraduates. There are presently over five hundred members who receive the Post Keynesian Study Group electronic newsletter and details of seminars. The Study Group has established a number of international links. As the present convenor of the Post Keynesian Study Group, I should like to thank Sheila Dow and John Hillard for the not inconsiderable time and effort they have spent in editing the proceedings and making these important papers available to a wider audience.
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