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The New Palgrave Dictionary of Economics pp 10520–10532Cite as

Palgrave Macmillan

Post Keynesian Economics

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Abstract

Post Keynesian economics is a dissident school in macroeconomics based on a particular interpretation of Keynes. A brief intellectual history of Post Keynesian ideas is provided, along with a discussion of some important methodological questions. Three short-period macro models are outlined: Paul Davidson’s aggregate supply–aggregate demand model, Michal Kalecki’s two-class model, and Hyman Minsky’s financial instability hypothesis. The Post Keynesian approach to economic growth is shown to focus on the expansion of aggregate demand, with a distinctive approach to monetary, fiscal and other dimensions of macroeconomic policy. In conclusion the future prospects of Post Keynesian economics are assessed.

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  1. http://link.springer.com/referencework/10.1057/978-1-349-95121-5

    J. E. King

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  1. J. E. King
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King, J.E. (2018). Post Keynesian Economics. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1634

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