The Structure of Post-Keynesian Economics

Geoffrey Harcourt

Chapter Chapter 10 in Keynes for the Twenty-First Century, 2008, pp 185-197 from Palgrave Macmillan

Abstract: Abstract Why post-Keynesian economics, and who were its Cambridge pioneers? Maynard Keynes, Richard Kahn, Richard Goodwin, Nicholas Kaldor, Luigi Pasinetti, Joan Robinson, and Piero Sraffa all started initially, at least in some degree, within the mainstream of their time. They all moved well and truly outside it, attempting to create either a revolutionary alternative or to rehabilitate the classical Marxian tradition, in most cases in the light of the Keynesian revolution. The one exception is Michal Kalecki, whose personal history and independent mind combined to place him virtually always outside the mainstream. This chapter, though, is not principally concerned with why and how the discontents that led them to change their minds arose. Rather, its principal object is to set out the structures of their alternative approaches in order to suggest modes of thinking about theoretical and policy issues in political economy.2

Keywords: Demand Curve; Full Employment; Money Wage; Macroeconomic Theory; Microeconomic Foundation (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1057/9780230611139_11

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