Post-Keynesian Economics - Challenging the Neo-Classical Mainstream

Arne Heise

MPRA Paper from University Library of Munich, Germany

Abstract: This article takes an in-depth look at post-Keynesianism as a paradigmatic al-ternative to the dominant neoclassical mainstream. It quickly becomes clear that post-Keynesianism is not a unified school of thought, but rather an assortment of theoretical approaches that share certain methodological and epistemological similarities and characteristic postulates. The Article does not attempt to de-scribe the full array of Kaleckian, Kaldorian and Sraffian variants of post-Keynesian theory but instead analysis the paradigmatic and formal structure of one particular form of post-Keynesianism, the monetary theory of production in order to reconstruct these characteristic postulates from the axiomatic core of post-Keynesianism. It then sets out the theory of market participation, an alter-native theory of economic policy that builds on monetary production economics.

Keywords: post-Keynesianism; heterodox economics; neoclassical economics; paradigms (search for similar items in EconPapers)
JEL-codes: B41 B50 B59 E11 E12 E60 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-hme, nep-hpe, nep-mac and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published in Efil Journal of Economic Research 8.2(2019): pp. 8-29

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:99280

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