The structure of post-Keynesian economics : the core contributions of the pioneers / G.C. Harcourt.

Format:

Book

Author/Creator:

Harcourt, G. C. (Geoffrey Colin), 1931-

Language:

English

Subjects (All):

Keynesian economics.

Economists.

Physical Description:

x, 205 pages : illustrations ; 24 cm

Place of Publication:

Cambridge, UK ; New York : Cambridge University Press, 2006.

Contents:

1 Introduction: why post-Keynesian economics and who were its Cambridge pioneers? 1

2 Post-Keynesian macroeconomic theories of distribution 6

Kaldor's 'Keynesian' theory 6

Kalecki's 'degree of monopoly' theory 11

Kalecki's review of Keynes' General Theory 21

The eclecticism of Joan Robinson 25

Hahn's finest hour: the macroeconomic theory of employment and distribution of his PhD dissertation 29

3 Post-Keynesian theories of the determination of the mark-up 32

Wood's 'Golden Age' model 32

The choice of technique in the investment decision: orthodox and post-Keynesian approaches 37

Harcourt and Kenyon's model in historical time 43

Why is internal finance to be preferred?: Kalecki's theory of increasing risk 50

4 Macroeconomic theories of accumulation 55

Keynes' theory: right ingredients, wrong recipe 55

Lerner's internal critique 57

Kalecki's, Joan Robinson's and Asimakopulos' Keynesian critique 60

Joan Robinson's banana diagram 61

5 Money and finance: exogenous or endogenous? 66

6 The complete model: its role in an explanation of post-war inflationary episodes 72

7 Theories of growth: from Adam Smith to 'modern' endogenous growth theory 84

Smith and Ricardo 85

Marx 95

Harrod 102

Solow-Swan 109

Kaldor, Mark 1 114

Joan Robinson (as told to Donald Harris) 119

Goodwin's eclecticism 121

Pasinetti's grand synthesis 123

Kaldor, Mark 2 134

Endogenous growth theory 139

8 Applications to policy 145

The vital link between 'vision' and policy 145

'Package deals': a solution to the Kaleckian dilemma? 147

Appendix 1 Biographical sketches of the pioneers: Keynes, Kalecki, Sraffa, Joan Robinson, Kahn, Kaldor 158

John Maynard Keynes, 1883-1946 158

Michal Kalecki, 1899-1970 160

Piero Sraffa, 1898-1983 164

Joan Robinson, 1903-1983 166

Richard Kahn, 1905-1989 170

Nicholas Kaldor, 1908-1986 172

Appendix 2 The conceptual core of the post-Keynesian discontent with orthodox theories of value, distribution and growth 177.

Notes:

Errata inserted.

Includes bibliographical references (pages 185-198) and index.

ISBN:

0521833876

9780521833875

OCLC:

69484203