1,721,055 research outputs found
The Marxian schemes of reproduction and the theory of effective demand
No full textThe paper deals with some theoretical and analytical issues raised by a recent book by Trigg on Marx's schemes of reproduction. The paper presents a generalized model of expanded reproduction and concentrates on the attempt to develop Marx's schemes along Keynesian lines. Trigg tries to develop a Keynesian interpretation of the schemes without significant changes to Marx's original approach; the paper argues that the abandonment of some of Marx's hypotheses, in particular that of free competition, is necessary to allows us to provide a Marxian determination of underemployment equilibria and to use a Marxian version of the Keynesian concept of multiplier. In considering Marx's and Keynes's analyses of capitalist economies, the paper also emphasizes their similarities with respect to the importance of money and the capitalists' liquidity preference in the process of reproduction and growth. Copyright The Author 2008. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved., Oxford University Press.
The provocative Joan Robinson: The making of a Cambridge economist, by Nahid Aslambeigui and Guy Oakes
No full textA review of a book on the biography of one of the most important Cambridge economists in the 20th centur
The new consensus in macroeconomics and non-mainstream approaches
No full textFirst paragraph: Giuseppe Fontana and Mark Setterfield have edited an interesting book on the relationship between recent developments in macroeconomics and the teaching of the discipline at the undergraduate and intermediate levels (Fontana/Setterfield 2009). The editors have chosen to focus the book on the ›New Consensus‹ in macroeconomics, on criticisms of such an approach and alternatives to it. The ›New Consensus‹ is presented in its simplest version as it is presented when teaching macroeconomics at the introductory and intermediate level. The ›New Consensus‹ is characterized by a three-equation model. In this model, the quantity of money is endogenously determined and the ›old Keynesian‹ LM curve is abandoned. The collection of essays presented by Fontana and Setterfield offers a presentation of the ›New Consensus‹ model and critical alternatives to it by scholars engaged both in the mainstream and in the heterodox (mainly post-Keynesian) camps
Some ties of Kalecki to the 1926 ‘Sraffian Manifesto’
No full textRistampato in M. Blaug (a cura di), Michal Kalecki (1899-1970), Edward Elgar Publisher, 199
A Modern Guide to Keynesian Macroeconomics and Economic Policies Eckhard Hein & Engelbert Stockhammer (Eds)
No full textEckhard Hein and Engelbert Stockhammer have recently edited this book, which intends to provide an overview of Keynesian and Post Keynesian macroeconomics and policies at an intermediate-to-advanced level. The book contains 13 chapters covering topics and issues typically dealt with by Post Keynesian economists
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