The Post-Keynesian Approach to Economics

Download or read book The Post-Keynesian Approach to Economics written by Philip Arestis and published by Edward Elgar Publishing. This book was released on 1992 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: This major new book provides a coherent critique of the neo-classical synthesis together with a comprehensive and systematic introduction to the post Keynesian alternatives. Professor Arestis demonstrates that post Keynesian economics offers a challenge to conventional neoclassical economics. He argues that although post Keynesianism is not problem-free, it nevertheless offers a more satisfactory explanation of 'real' phenomena. The post Keynesian Approach to Economicsreveals the microfoundations of post Keynesian economics and describes how these theoretical propositions link up with the macrofoundations. In doing so, it demonstrates that money pricing, capital accumulation, growth and distribution are linked very closely together. The economic policy implications are discussed extensively.