Introduction to Post-Keynesian Economics

This book offers an accessible introduction to post-Keynesian economics, showing that there is an alternative to neoclassical economics and its free-market economic policies. Post-Keynesian economics is founded on realistic assumptions, such as interest targeting by central banks or constant average variable costs in manufacturing and services.

Customer Reviews:

What is Post Keynesian Economics?

By James F. Mueller "Lachmanniac" - July 29, 2008

Post Keynesian economics is a broadly defined school of economic thought that takes their inspiration from the work of J. M. Keynes. To arrive at an understanding of the essential features of this school, one must be presented a coherent and detailed explanation of the assumptions and theories that guide their thought. This is not really done in this book.

In fact, the book is not even really Post Keynesian. Post Keynesian economics (note the capital P and the absence of the hyphen) is an American phenomenon that was begun by Paul Davidson. But now, Paul Davidson is regarded as the most important "fundamenalist Keynesian" in a broadly defined field known as Post Keynesian ecnomics. Other traditions and views have found their way into this school, and have supplanted and implicitly rejected a lot of the contributions Paul Davidson made early in his career. This book is written from one of these views, namely, the Kaleckian view. The entire book is an extension and... read more

Good, But not Post Keynesian

By Camilo Guti?rrez - May 7, 2013

The book is an excellent one for introducing a different approach to economics than the standard neoclassical one.
However, this book does NOT show some vital concepts for post-keynesian theory, such as the liquidity preference, which are vital to understanding Keynes notions.

I would encourage everybody to buy this book, but warn them that this is more a Kaleckian than a Keynesian theory. It is, however, a very clear book that will surely open the mind of the reader to new perspectives, provided he has only heard the neoclassical approach to economics.