Hardback
The Elgar Companion to Post Keynesian Economics, Second Edition
2nd edition
9781849803182 Edward Elgar Publishing
This thoroughly revised and updated second edition provides a comprehensive guide to Post Keynesian methodology, theory and policy prescriptions.
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Critical Acclaim
Contributors
Contents
More Information
This thoroughly revised and updated second edition provides a comprehensive guide to Post Keynesian methodology, theory and policy prescriptions.
The Companion reflects the challenges posed by the global financial crisis that began in 2008 and by the consolidation of the New Neoclassical Synthesis in macroeconomic theory. There are 41 entirely new entries, marking the emergence of a new generation of Post Keynesian scholars. The central issues that were dealt with in the first edition remain at the core of the book, but much more attention is paid in this second edition to financial markets, to Post Keynesian economics outside its traditional Anglo-American heartland and to gender issues and environmental policy.
Including major theoretical, methodological and policy issues in Post Keynesian economics, this enriching Companion will strongly appeal to postgraduate and advanced undergraduate students in economics as well as related social science disciplines including international political economy, international relations, politics, public policy and sociology.
The Companion reflects the challenges posed by the global financial crisis that began in 2008 and by the consolidation of the New Neoclassical Synthesis in macroeconomic theory. There are 41 entirely new entries, marking the emergence of a new generation of Post Keynesian scholars. The central issues that were dealt with in the first edition remain at the core of the book, but much more attention is paid in this second edition to financial markets, to Post Keynesian economics outside its traditional Anglo-American heartland and to gender issues and environmental policy.
Including major theoretical, methodological and policy issues in Post Keynesian economics, this enriching Companion will strongly appeal to postgraduate and advanced undergraduate students in economics as well as related social science disciplines including international political economy, international relations, politics, public policy and sociology.
Critical Acclaim
‘The effort that has been put for the publication of this book is highly meritorious and it can be considered a complete encyclopedia of the current status of the scientific research in the tradition of Keynes. . . Many of the issues contained in this book provide an interesting re-reading of authors of the past and, in this sense, it is recommendable also for historians of political economy.’
– Guglielmo Forges Davanzati, Oeconomia
‘The Elgar Companion to Post Keynesian Economics is a comprehensive guide to economic analyses in the tradition of Keynes and the so-called Cambridge (UK) school of economics. The coverage of themes and different theoretical orientations within Post Keynesianism is remarkable and the quality of the various entries is impressive. John King’s invisible hand is responsible for a minimum of overlaps and an optimum in quality and comprehensibility. This book has already proved to be of interest to a wide range of economists and can be expected to continue to do so for a long time to come.’
– Heinz D. Kurz, University of Graz, Austria
– Guglielmo Forges Davanzati, Oeconomia
‘The Elgar Companion to Post Keynesian Economics is a comprehensive guide to economic analyses in the tradition of Keynes and the so-called Cambridge (UK) school of economics. The coverage of themes and different theoretical orientations within Post Keynesianism is remarkable and the quality of the various entries is impressive. John King’s invisible hand is responsible for a minimum of overlaps and an optimum in quality and comprehensibility. This book has already proved to be of interest to a wide range of economists and can be expected to continue to do so for a long time to come.’
– Heinz D. Kurz, University of Graz, Austria
Contributors
Contributors: A. Altuzarra, P. Arestis, T. Asada, A. Barba, T. Baskoy, J. Bibow, S. Blankenburg, R.A. Blecker, H. Bloch, A. Brown, D. Bunting, F.J. Cardim de Carvalho, V. Chick, J. Cornwall, W. Cornwall, J. Courvisanos, C. Danby, F. Dantas, P. Davidson, L.F. De Paula, D. Dequech, S.C. Dow, P. Downward, S. Dullien, S.P. Dunn, A.K. Dutt, S. Fazzari, F. Ferrari-Filho, B. Fine, G. Fontana, M. Forstater, G. Fujii, R. Garnett, B. Gerrard, M. Glickman, G.C. Gu, G.C. Harcourt, J.T. Harvey, M. Hayes, E. Hein, J.F. Henry, G. Hewitson, M.C. Howard, P. Howells, T. Jefferson, J. Jespersen, T.-H. Jo, D.W. Katzner, S. Keen, S. Kelton, J.E. King, P. Kriesler, M. Lavoie, J. Leclaire, F.S. Lee, J. Lodewijks, M.C. Marcuzzo, J.S.L. McCombie, E.J. McKenna, A. Mearman, J. Melmiès, W. Mitchell, G. Mongiovi, T. Mott, T. Mouakil, Y. Nersisyan, J.W. Nevile, T. Niechoj, R. O’Donnell, P.A. O’Hara, A. Pacella, T.I. Palley, G. Palma, C. Panico, S.D. Parsons, N. Perry, M. Pivetti, R. Pollin, S. Pressman, J. Priewe, A. Razmi, R. Realfonzo, C. Rider, L.-P. Rochon, C.J. Rodríguez-Fuentes, S. Rossi, C. Sardoni, M. Sawyer, R.H. Scott III, M. Setterfield, N. Shapiro, H.J. Sherman, P. Skott, J. Smithin, E. Stockhammer, R. Studart, P.R. Tcherneva, A.P. Thirlwall, Z. Todorova, J. Toporowski, G. Tortorella Esposito, A.B. Trigg, É. Tymoigne, L. Ussher, T. Van Treeck, A. Vercelli, M. Vernengo, M. Watts, E. Webster, A. Winnett, M.H. Wolfson, L.R. Wray, D.C. Zannoni
Contents
Contents:
Introduction
1. Agency
Edward J. McKenna and Diane C. Zannoni
2. Australia
J.E. King
3. Austrian School of Economics
Stephen D. Parsons
4. Babylonian Mode of Thought
Sheila C. Dow
5. Balance-of-Payments-Constrained Economic Growth
John S.L. McCombie
6. Banking
Gillian Hewitson
7. Bastard Keynesianism
John Lodewijks
8. Behavioural Economics
Therese Jefferson and J.E. King
9. Brazil
Luiz Fernando de Paula and Fernando Ferrari-Filho
10. Bretton Woods
Matías Vernengo
11. Budget Deficits
Joëlle Leclaire
12. Business Cycles
Peter Skott
13. Cambridge Economic Tradition
G.C. Harcourt
14. Capital Theory
Ben Fine
15. Central Banks
Fernando J. Cardim de Carvalho
16. Chartalism
Sergio Rossi
17. Choice under Uncertainty
Victoria Chick and Sheila C. Dow
18. Circuit Theory
Riccardo Realfonzo
19. Competition
Nina Shapiro
20. Consumer Debt
Robert H. Scott, III
21. Consumer Theory
Marc Lavoie
22. Consumption
David Bunting
23. Conventions
David Dequech
24. Credit Rationing
Martin H. Wolfson
25. Critical Realism
Andrew Brown
26. Development Finance
Rogério Studart
27. Econometrics
Paul Downward
28. Economic Development
Stephanie Blankenburg and Gabriel Palma
29. Economic Policy
Malcolm Sawyer
30. Effective Demand
Mark Setterfield
31. Efficient Markets Hypothesis
Mark Hayes
32. Employer of Last Resort
Pavlina R. Tcherneva
33. Employment
Engelbert Stockhammer
34. Environmental Economics
Adrian Winnett
35. Environmental Policy
Neil Perry
36. Equilibrium and Non-equilibrium
Donald W. Katzner
37. Exchange Rates
John T. Harvey
38. Expectations
Éric Tymoigne
39. Export-led Growth
Arslan Razmi
40. Financial Instability Hypothesis
Louis-Philippe Rochon
41. Financial Markets
Jörg Bibow
42. Financial Reform
Aldo Barba
43. Financialization
Till Van Treeck
44. Fiscal Policy
J.W. Nevile
45. Full Employment
William Mitchell and Martin Watts
46. Fundamentalist Keynesians
Bill Gerrard
47. Galbraith’s Economics
Stephen P. Dunn
48. Gender
Colin Danby
49. Germany and Austria
Torsten Niechoj
50. Global Financial Crisis
Stephanie Blankenburg
51. Growth and Income Distribution
Carlo Panico
52. Growth Theory
Steve Keen
53. Households
Zdravka Todorova
54. Income Distribution
Thomas I. Palley
55. Inflation
John Smithin
56. Innovation
Jerry Courvisanos
57. Institutionalism
Steven Pressman
58. International Economics
Robert A. Blecker
59. International Financial Reform
Leanne Ussher
60. Investment
Tracy Mott
61. Italy
Andrea Pacella and Guido Tortorella Esposito
62. Japan
Toichiro Asada
63. Joan Robinson’s Economics
Maria Cristina Marcuzzo
64. Journal of Post Keynesian Economics
Phillip Anthony O’Hara
65. Kaldorian Economics
A.P. Thirlwall
66. Kaleckian Economics
Jan Toporowski
67. Keynes’s General Theory
Paul Davidson
68. Keynes’s Treatise on Money
Giuseppe Fontana
69. Keynes’s Treatise on Probability
Rod O’Donnell
70. Latin American Structuralism
Gerardo Fujii
71. Liquidity Preference
Stephanie Kelton (née Bell)
72. Macroeconomic Methodology
Jesper Jespersen
73. Marginalism
Harry Bloch
74. Market Governance
Tuna Baskoy
75. Microfoundations
Steven Fazzari
76. Monetary Policy
Peter Howells
77. Money
L. Randall Wray
78. Money Manager Capitalism
Yeva Nersisyan
79. Multiplier
Andrew B. Trigg
80. New Classical Economics
Alessandro Vercelli
81. New Keynesian Economics
Wendy Cornwall
82. New Neoclassical Synthesis
Sebastian Dullien
83. Non-ergodicity
Stephen P. Dunn
84. Open Systems
Andrew Mearman
85. Pluralism in Economics
Rob Garnett
86. Price Rigidity
Jordan Melmiès
87. Prices and Pricing
Gyun Cheol Gu and Frederic S. Lee
88. Production
Amitava Krishna Dutt
89. Profits
Elizabeth Webster
90. Rate of Interest
Massimo Pivetti
91. Regional Monetary Policy
Carlos J. Rodríguez-Fuentes
92. Saving
Robert Pollin
93. Say’s Law
Claudio Sardoni
94. Socialism
Howard J. Sherman
95. Sraffian Economics
Gary Mongiovi
96. Stagflation
Mark Setterfield and John Cornwall
97. Stock–Flow Consistent Modelling
Tarik Mouakil
98. Sustainable Development
Jerry Courvisanos
99. Technology and Innovation
Amaia Altuzarra
100. Time in Economic Theory
John F. Henry
101. Time-series Econometrics
Flavia Dantas
102. Tobin Tax
Philip Arestis
103. Transition Economies
Christine Rider
104. Traverse
Peter Kriesler
105. Uncertainty
Murray Glickman
106. Underconsumption
J.E. King
107. Unemployment
Mathew Forstater
108. University of Missouri–Kansas City
Frederic S. Lee
109. Wage Deflation
Jan Priewe
110. Wage- and Profit-led Regimes
Eckhard Hein
111. Walrasian Economics
M.C. Howard
112. Welfare Economics
Tae-Hee Jo
Index
Introduction
1. Agency
Edward J. McKenna and Diane C. Zannoni
2. Australia
J.E. King
3. Austrian School of Economics
Stephen D. Parsons
4. Babylonian Mode of Thought
Sheila C. Dow
5. Balance-of-Payments-Constrained Economic Growth
John S.L. McCombie
6. Banking
Gillian Hewitson
7. Bastard Keynesianism
John Lodewijks
8. Behavioural Economics
Therese Jefferson and J.E. King
9. Brazil
Luiz Fernando de Paula and Fernando Ferrari-Filho
10. Bretton Woods
Matías Vernengo
11. Budget Deficits
Joëlle Leclaire
12. Business Cycles
Peter Skott
13. Cambridge Economic Tradition
G.C. Harcourt
14. Capital Theory
Ben Fine
15. Central Banks
Fernando J. Cardim de Carvalho
16. Chartalism
Sergio Rossi
17. Choice under Uncertainty
Victoria Chick and Sheila C. Dow
18. Circuit Theory
Riccardo Realfonzo
19. Competition
Nina Shapiro
20. Consumer Debt
Robert H. Scott, III
21. Consumer Theory
Marc Lavoie
22. Consumption
David Bunting
23. Conventions
David Dequech
24. Credit Rationing
Martin H. Wolfson
25. Critical Realism
Andrew Brown
26. Development Finance
Rogério Studart
27. Econometrics
Paul Downward
28. Economic Development
Stephanie Blankenburg and Gabriel Palma
29. Economic Policy
Malcolm Sawyer
30. Effective Demand
Mark Setterfield
31. Efficient Markets Hypothesis
Mark Hayes
32. Employer of Last Resort
Pavlina R. Tcherneva
33. Employment
Engelbert Stockhammer
34. Environmental Economics
Adrian Winnett
35. Environmental Policy
Neil Perry
36. Equilibrium and Non-equilibrium
Donald W. Katzner
37. Exchange Rates
John T. Harvey
38. Expectations
Éric Tymoigne
39. Export-led Growth
Arslan Razmi
40. Financial Instability Hypothesis
Louis-Philippe Rochon
41. Financial Markets
Jörg Bibow
42. Financial Reform
Aldo Barba
43. Financialization
Till Van Treeck
44. Fiscal Policy
J.W. Nevile
45. Full Employment
William Mitchell and Martin Watts
46. Fundamentalist Keynesians
Bill Gerrard
47. Galbraith’s Economics
Stephen P. Dunn
48. Gender
Colin Danby
49. Germany and Austria
Torsten Niechoj
50. Global Financial Crisis
Stephanie Blankenburg
51. Growth and Income Distribution
Carlo Panico
52. Growth Theory
Steve Keen
53. Households
Zdravka Todorova
54. Income Distribution
Thomas I. Palley
55. Inflation
John Smithin
56. Innovation
Jerry Courvisanos
57. Institutionalism
Steven Pressman
58. International Economics
Robert A. Blecker
59. International Financial Reform
Leanne Ussher
60. Investment
Tracy Mott
61. Italy
Andrea Pacella and Guido Tortorella Esposito
62. Japan
Toichiro Asada
63. Joan Robinson’s Economics
Maria Cristina Marcuzzo
64. Journal of Post Keynesian Economics
Phillip Anthony O’Hara
65. Kaldorian Economics
A.P. Thirlwall
66. Kaleckian Economics
Jan Toporowski
67. Keynes’s General Theory
Paul Davidson
68. Keynes’s Treatise on Money
Giuseppe Fontana
69. Keynes’s Treatise on Probability
Rod O’Donnell
70. Latin American Structuralism
Gerardo Fujii
71. Liquidity Preference
Stephanie Kelton (née Bell)
72. Macroeconomic Methodology
Jesper Jespersen
73. Marginalism
Harry Bloch
74. Market Governance
Tuna Baskoy
75. Microfoundations
Steven Fazzari
76. Monetary Policy
Peter Howells
77. Money
L. Randall Wray
78. Money Manager Capitalism
Yeva Nersisyan
79. Multiplier
Andrew B. Trigg
80. New Classical Economics
Alessandro Vercelli
81. New Keynesian Economics
Wendy Cornwall
82. New Neoclassical Synthesis
Sebastian Dullien
83. Non-ergodicity
Stephen P. Dunn
84. Open Systems
Andrew Mearman
85. Pluralism in Economics
Rob Garnett
86. Price Rigidity
Jordan Melmiès
87. Prices and Pricing
Gyun Cheol Gu and Frederic S. Lee
88. Production
Amitava Krishna Dutt
89. Profits
Elizabeth Webster
90. Rate of Interest
Massimo Pivetti
91. Regional Monetary Policy
Carlos J. Rodríguez-Fuentes
92. Saving
Robert Pollin
93. Say’s Law
Claudio Sardoni
94. Socialism
Howard J. Sherman
95. Sraffian Economics
Gary Mongiovi
96. Stagflation
Mark Setterfield and John Cornwall
97. Stock–Flow Consistent Modelling
Tarik Mouakil
98. Sustainable Development
Jerry Courvisanos
99. Technology and Innovation
Amaia Altuzarra
100. Time in Economic Theory
John F. Henry
101. Time-series Econometrics
Flavia Dantas
102. Tobin Tax
Philip Arestis
103. Transition Economies
Christine Rider
104. Traverse
Peter Kriesler
105. Uncertainty
Murray Glickman
106. Underconsumption
J.E. King
107. Unemployment
Mathew Forstater
108. University of Missouri–Kansas City
Frederic S. Lee
109. Wage Deflation
Jan Priewe
110. Wage- and Profit-led Regimes
Eckhard Hein
111. Walrasian Economics
M.C. Howard
112. Welfare Economics
Tae-Hee Jo
Index