Post-Keynesian Thought

Geoffrey Harcourt

Chapter 19 in 50 Years a Keynesian and Other Essays, 2001, pp 263-285 from Palgrave Macmillan

Abstract: Abstract The approaches to political economy which reflect post-Keynesian thought are there partly for historical reasons and, partly, because of logical associations. Post-Keynesianism is an extremely broad church. The overlaps at each end of a long spectrum of views are marginal, reflecting little more than a shared hostility towards mainstream neoclassical economics and methodology, IS/LM Keynesianism and the ‘fix-price’ Keynesianism of the ‘New Keynesians’ and certain French economists. Some post-Keynesians are working actively towards a synthesis of the principal strands. Others regard the search for a synthesis, for a general all-embracing structure, as a profound mistake; to quote Joan Robinson, a founding mother, a misguided attempt to replace ‘one box of tricks’ by another. Post-Keynesianism should be a situation-and-issue-specific method of doing political economy, a ‘horses for courses’ approach, itself an all-embracing structure at the methodological level.

Keywords: Money Market; Supply Price; Involuntary Unemployment; Investment Function; General Price Level (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52331-9_19

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DOI: 10.1057/9780230523319_19

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