Contemporary Post Keynesian Analysis

‘. . . this book usefully presents topical issues in the field of post Keynesian economics. . . this collection deserves praise for exposing readers to the tradition of economic thought built on the work of Keynes and the Cambridge tradition.’
– Matthias Greiff, Review of Political Economy

Original articles by leading scholars of post Keynesian economics make up this authoritative collection. Current topics of the greatest interest are covered, such as: perspectives on current economic policy; post Keynesian approaches to monetary theory and policy; economic development, growth and inflation; Kaleckian perspectives on distribution; economic methodology; and history of heterodox economic theory.

The contributors explore a variety of prevailing issues including: wage bargaining and monetary policy in the EMU; the meaning of money in the internet age; stability conditions for small open economies; and economic policies of sustainable development in countries transitioning to a market economy. Other enduring matters are examined through the lens of economic theorists – Kaleckian dynamics and evolutionary life cycles; a comparison between Keynes’s and Hayek’s economic theories; and an analysis of the power of the firm based on the work of Joan Robinson, to name a few.

Students and scholars of post Keynesian economics and those with an interest in other heterodox schools of thought will find this enlightening volume a valuable addition to their reading.

Contents: Part I: Post Keynesian Perspectives on Current Economic Policy 1. Wage Bargaining and Monetary Policy in the EMU: A Post Keynesian Perspective 2. Public Debt and Private Wealth 3. Exploring the Economics of Euphoria: Using Post Keynesian Tools to Understand the US Bubble and its Aftermath Part II: Post Keynesian Approaches to Monetary Theory and Policy 4. Money in the Time of the Internet: Electronic Money and its Effects 5. Understanding the Implications of Money Being a Social Convention 6. Demand Management and the Monetary System: Do Currency Boards and Currency Unions Spell the End for Keynesian Policy? Part III: Post Keynesian Contributions on Development, Growth and Inflation 7. Stability Conditions for a Small Open Economy 8. Mexico: Strong Currency and Weak Economy 9. Economic Policy of Sustainable Development in the Countries of Transition Towards a Market Economy 10. Allied, German and Latin Perspectives on Inflation Part IV: Kaleckian Perspectives on Growth, Inflation and Distribution 11. Commodity Prices and the Dynamics of Inflation in Australia 12. Innovation and Investment in Capitalist Economies, 1870–2000: Kaleckian Dynamics and Evolutionary Life Cycles 13. Kalecki’s Theory of Income Distribution: The Answer to a Maiden’s Prayer? Part V: Methodology 14. On the Relation Between Individual and Collective Beliefs: A Comparison Between Keynes’s and Heyek’s Economic Theories 15. A Keynesian Critique of Recent Applications of Risk-Sensitive Control Theory in Macroeconomics 16. Presenting ‘Demi-Regularities’ of Pricing Behaviour: The Need for Triangulation Part VI: Issues in the History of Thought 17. Analysing and Fighting Recession with Reference to Keynes 18. From Say’s Law to Keynes, from Keynes to Walras’s Law: Some Ironies in the History of Economic Thought 19. Power of the Firm and New Mercantilism: An Analysis Based on Joan Robinson’s Thought Index