The Traverse, Equilibrium Analysis and Post-Keynesian Economics

New Keynesian economics: Between equilibrium and disequilibrium

In an attempt to explain and forecast the behavior of economic variables and of the economy as a whole, each school of economics creates its own system of paradigms, premises and models. The New Keynesian school of thought developed from the traditional Keynesian insights tries to offer additional explanations, based on microeconomic foundations, for such phenomena as economy-wide fluctuations ...

Finding common ground between ecological economics and post-Keynesian economics

a r t i c l e i n f o Post-Keynesian economics and ecological economics have in common that they are considered to be 'heterodox' schools of thought. Aside from that, there has not been a strong connection between them. Previous books on post-Keynesian economics contain no chapter on environmental or ecological issues. This neglect has led leading ecological economists to criticize post-Keynesi...

Keynesian Economics

Keynesian economics (pronounced /ˈkeɪnziən/ KAYN-zee-ən, also called Keynesianism and Keynesian theory) is a macroeconomic theory based on the ideas of 20th century British economist John Maynard Keynes. Keynesian economics argues that private sector decisions sometimes lead to inefficient macroeconomic outcomes and therefore advocates active policy responses by the public sector, including mon...

Econometrics, Realism and Policy in Post Keynesian Economics

Post Keynesian Employment Analysis and Oecd Unemployment

Post Keynesians [hereafter PK] fashion their theory of employment (i.e., private sector labordemand hiring) utilizing Keynes's general theory. Entrepreneurial demand for hiring workers is derived from the point of effective demand determined in product markets. Since Keynes's "general" theory requires fewer restrictive axioms than the axiomatic theory underlying both classical economics (new an...