Post-Keynesian Economics: New Foundations, by Marc Lavoie
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Post-Keynesian Economics: New Foundations, by Marc Lavoie
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'This textbook by Lavoie is an updated version of his earlier work and deserves to be read by anyone who wants to understand alternative perspectives to neoclassical thinking. The references are varied and given readers a solid foundation for continuing their education in economics.'- R.H Scott, Choice
Mainstream economic theory has been increasingly questioned following the recent global financial crisis. Marc Lavoie shows how post-Keynesian theory can function as a coherent substitute by focusing on realistic assumptions and integrating the financial and real sides of the economy. This book outlines alternative microeconomic foundations based on a world of fundamental uncertainty, with an emphasis on various paradoxes that arise in a truly macroeconomic analysis.
The book is a considerably extended and fully revamped edition of the highly successful and frequently cited Foundations of Post-Keynesian Economic Analysis. It provides an exhaustive account of post-Keynesian economics and of the developments that have occurred in post-Keynesian theory and in the world economy over the last twenty years. Topics covered include open-economy issues, the methodological foundations of heterodox economics, consumer theory, firms and pricing, money and credit, effective demand and employment, inflation theory, and growth theories.
Students and scholars of economics, particularly post-Keynesian and heterodox economics, will find this comprehensive look at the field a necessary addition to their libraries.
Contents: Preface 1. Essentials of Heterodox and Post-Keynesian Economics 2. Theory of Choice 3. Theory of the Firm 4. Credit, Money and Central Banks 5. Effective Demand and Employment 6. Accumulation and Capacity 7. Open-Economy Macroeconomics 8. Inflation Theory 9. Concluding Remarks Index
Post-Keynesian Economics: New Foundations, by Marc Lavoie- Amazon Sales Rank: #1145781 in Books
- Published on: 2015-03-29
- Original language: English
- Dimensions: 9.50" h x 6.50" w x 1.75" l,
- Binding: Paperback
- 680 pages
About the Author Marc Lavoie, Professor of Economics, University of Ottawa, Canada
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Most helpful customer reviews
2 of 2 people found the following review helpful. Other than a few tedious and redundant areas By Ryan Be prepared for a book that is primarily theory and abstractions. Do not be discouraged, though. Lavoie takes his time in developing the Post-Keynesian model and explaining every aspect of the model. At times, you can get lost in his abstractions and formulas, which may require a second reading of a couple pages. Other than a few tedious and redundant areas, the book is a solid base for anyone interested in Post-Keynesian theory. I suggest looking at L. Randall Wray to supplement the financial and banking sectors of this book.
4 of 7 people found the following review helpful. The great thing is that most traders and economists have been ... By Amazon Customer It want to understand how the economy actually works this book is the closest you will get to a deep understanding. The great thing is that most traders and economists have been trained in neo classical economics thus they have one arm tied behind their back.
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