Post Keynesian Economics and Its Critics

Arestis, Philip; Dunn, Stephen P.; Sawyer, Malcolm

doi:10.1080/01603477.1999.11490212

Cited by 33 publications

(14 citation statements)

References 23 publications

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“…We suggest that our extension to Cowling and Sugden offers a way of integrating Post Keynesian monetary economics, which is largely Keynesian, more fully with its analysis of the firm, which is broadly Kaleckian, by making explicit the contractual nature of the firm and its nexus to strategic nodes of power, uncertainty and money. This promotes further coherence across the different Post Keynesian traditions and provides a good example of open systems theorizing (see also Arestis et al, 1999aArestis et al, , 1999bDunn, 2000a;Downward, 2000).…”

Section: Introductionmentioning

confidence: 90%

“…Focusing on the informational problems faced by (strategic) decision-making agents within firms facilitates the further opening up of this 'black box' and provides a bridge between the Keynesian and Kaleckian strands of Post Keynesianism which will further allow it to refute accusations of incoherence (cf. Walters andYoung, 1997, 1999;Arestis et al, 1999aArestis et al, , 1999b.…”

Section: The Theory Of the Firm As A Contribution To Post Keynesiamentioning

confidence: 99%

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Post Keynesian Econometrics, Microeconomics and the Theory of the Firm

Dow¹,

Hillard²

2002

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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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Section: Introductionmentioning

confidence: 90%

Section: The Theory Of the Firm As A Contribution To Post Keynesiamentioning

confidence: 99%

Post Keynesian Econometrics, Microeconomics and the Theory of the Firm

Dow¹,

Hillard²

2002

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“…The basic proposition, originating from Keynes and Kalecki, is that in a monetary production economy the level of economic activity is set by the level of effective demand, and that the level of effective demand will not generally be consistent with full employment (Arestis et al 1999). The REVIEW OF SOCIAL ECONOMY 274 expansion of effective demand requires the extension of credit, and that generally involves the creation of money, which occurs within the private sector ''to meet the needs of trade''.…”

Section: What Is Post Keynesian Economics?mentioning

confidence: 99%

Prolegomena to a Post Keynesian health economics

Dunn¹

2006

Review of Social Economy

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Post Keynesian economics has no specific association with, or has made no specific contribution to, Health economics or healthcare policy. In one sense this is perhaps unsurprising. Post Keynesian economics is for many a distinct approach to macroeconomics. Nevertheless, it has always invoked a strong microeconomic supply-side analysis and thus the purpose of this paper is to make some prefatory remarks as to the types of contributions Post Keynesian economics can make to the economics of healthcare and healthcare policy. The relevance of Post Keynesian themes, such as the relevance of history, uncertainty, distributional issues, and the importance of political and economic institutions for healthcare economics and health policy, is highlighted.Post Keynesian economics, health economics, healthcare financing, macroeconomics,

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“…Coherence (or the lack thereof) has been debated explicitly in the context of post‐Keynesian economics. Recently, a number of contributors have been questioning whether post‐Keynesian economics constitutes a coherent school of thought (Arestis ; Arestis, Dunn, and Sawyer ; Arestis ; Dunn ). Coherence has been interpreted as an attempt of post‐Keynesian economics to become an alternative theory to mainstream economics (Walters and Young ).…”

Section: Criteria Of Defining Schools Of Thoughtmentioning

confidence: 99%

Revisiting the Concept of Schools of Thought in Economics: The Example of theAustrian School

Negru¹

2013

American J Econ Sociol

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The aim of this article is to explore defining characteristics of schools of thought in economics, with Austrian economics chosen to illustrate some of the themes raised. This article argues that a school of thought can be interpreted as an entity that comprises both a system of thought and its member practitioners. Furthermore, a school of thought presupposes the existence of two elements: coherence and distinctiveness. Despite the existence of Misesian and Hayekian strands and thus of plurality within the Austrian school, the article argues for the existence of a broader notion of coherence within the Austrian school at the level of epistemology, methodology, and agenda/objectives.

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Post Keynesian Economics and Its Critics

Cited by 33 publications

References 23 publications

Post Keynesian Econometrics, Microeconomics and the Theory of the Firm

Post Keynesian Econometrics, Microeconomics and the Theory of the Firm

Prolegomena to a Post Keynesian health economics

Revisiting the Concept of Schools of Thought in Economics: The Example of theAustrian School

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