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The Post-Keynesian Approach To Economics

The Post-Keynesian Approach To Economics

An Alternative Analysis of Economic Theory and Policy

Philip Arestis

Philip Arestis, University Director of Research, Cambridge Centre for Economic and Public Policy, Department of Land Economy, University of Cambridge and Fellow, Wolfson College, UK

1992 336 pp Hardback 978 1 85278 154 5
1994 Paperback 978 1 85898 013 3

Hardback £59.95 on-line price £53.96

Paperback £24.95 on-line price £19.96

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Series: New Directions in Modern Economics series






Description
‘The real strength of Arestis’s book is in providing a survey of a very large number of contributions which have gone into building-up this central position. Thoughtful students who have had a thorough grounding in neoclassical macroeconomics and want to see something of the alternatives, would learn much from Arestis (as would their teachers).’
– Adrian Winnett, Cyprus Journal of Economics

‘. . . [provides] excellent expositions for students [and] should allow discussion to concentrate on the theoretical consistency of the various components of the post-Keynesian alternative.’
– J.A. Kregel, The Economic Journal

This major new book provides a coherent critique of the neo-classical synthesis together with a comprehensive and systematic introduction to the post-Keynesian alternatives.

Professor Arestis demonstrates that post-Keynesian economics offers a challenge to conventional neo-classical economics. He argues that although post-Keynesianism is not problem-free, it nevertheless offers a more satisfactory explanation of ‘real’ phenomena.

Contents
Contents: Preface 1. The Grand Neo-Classical Synthesis 2. Refinements of the GNS 3. A Critique of GNS Economics 4. Post-Keynesian Economics 5. Theories of Production, Investment and Distribution 6. Theories of Prices and Pricing 7. The Theory of Money Wage Determination 8. The Theory of Money, Credit and Finance 9. Growth Dynamics and Business Cycles Theories 10. Economic Policy Implications Index

Further information

‘The real strength of Arestis’s book is in providing a survey of a very large number of contributions which have gone into building-up this central position. Thoughtful students who have had a thorough grounding in neoclassical macroeconomics and want to see something of the alternatives, would learn much from Arestis (as would their teachers).’
– Adrian Winnett, Cyprus Journal of Economics

‘. . . [provides] excellent expositions for students [and] should allow discussion to concentrate on the theoretical consistency of the various components of the post Keynesian alternative.’
– J.A. Kregel, The Economic Journal

‘Overall, this is an interesting book . . . this book does a number of things rather well – it meticulously explicates a representative post Keynesian model. Finally, the book is relatively brief which is also an advantage. While its scope is not as ambitious as some others, its length is convenient and its applied emphasis is unique. For these interrelated reasons its merits a distinguished place among the surveys currently on the market.’
– Robert E. Prasch, Review of Social Economy

‘This book gives a coherent critique of the neoclassical synthesis together with a comprehensive and systematic introduction to post Keynesian alternatives. An important study which discusses economic policy implications extensively.’
– Aslib Book Guide

‘. . . Professor Arestis has done a commendable job in delineating the arguments for a comprehensive model of post Keynesian economics. . . . I (still) recommend this book as necessary reading for those interested in developing an alternative to orthodox economics, and I would also recommend it as useful reading for a first-year graduate macro course.’
– Ted P. Schmidt, RRPE

This major new book provides a coherent critique of the neo-classical synthesis together with a comprehensive and systematic introduction to the post Keynesian alternatives.

Professor Arestis demonstrates that post Keynesian economics offers a challenge to conventional neoclassical economics. He argues that although post Keynesianism is not problem-free, it nevertheless offers a more satisfactory explanation of ‘real’ phenomena.

The post Keynesian Approach to Economics reveals the microfoundations of post Keynesian economics and describes how these theoretical propositions link up with the macrofoundations. In doing so, it demonstrates that money pricing, capital accumulation, growth and distribution are linked very closely together. The economic policy implications are discussed extensively.



 
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