Keynes, Post-Keynesianism and Political Economy

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Geoff Harcourt has had a major impact on the field of Post-Keynesian economics, not only in his research but also in his teaching. Many of Harcourts students have gone on to make valuable contributions in this field. This volume brings together contributions from thirty such former students, now established in academic institutions around the world. Their contributions focus on themes important to Harcourts work, touching upon:
· history of political economy
· methodology
· economic theory
· applied analysis This work is a valuable addition to the literature of political economy and a fitting tribute to a leading economist.

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Product Details

Table of Contents

List of illustrations
List of contributors
Pt. I History of political economy and methodology 1
1 Manufacturing the Smithian paradox of value 3
2 The Ricardo-Malthus debate: effective demand, technical change and the limits to growth 23
3 Cassel on cyclical growth 42
4 Alfred Marshall and evangelicalism 68
5 Dissenting economists: the late nineteenth-century Indian tradition 94
6 Liquidity preference: its origin 110
7 Dentists, dreamers and defunct economists: some reflections on English political economy between the wars 130
8 Keynes's socialism: conception, strategy and espousal 149
9 On some arguments for the rationality of conventional behaviour under uncertainty: concepts, applicability and criticisms 176
10 Keynes on rationality, expectations and investment 196
11 Keynes' common-sense economics: a criticism of Coates' argument 214
12 Scientific communities, language and the Keynesian revolution 229
13 Situational analysis and agent rationality: Shackle contra Popper 244
14 The debate on excess capacity in the 1930s 259
15 Cantabrigian preferences: Joan Robinson v. Frank Hahn 284
16 Reading Marx: Joan Robinson's essay on Marxian economics 295
17 Joan Robinson: a neglected precursor of internal migration models 312
Pt. II Economic theory and applied analysis 335
18 The Cambridge theory of distribution in the short period: an open economy approach 337
19 The political economy of macroeconomic policy 356
20 Unemployment hysteresis in an open economy 368
21 How manufacturing can help young people to get high-wage jobs 385
22 Harcourt, Hicks and Lowe: incompatible bedfellows? 400
23 Technological progress and effective demand: a Kaleckian perspective 418
24 Lighthouses, television and the theory of public goods 433
25 Repetition, evolution and learning in games: from equilibrium to open-endedness 450
26 A modified trend through peaks approach to measuring potential output: an application to the Italian economy 471
27 The wage-wage spiral and wage determination: an empirical appraisal for Italy 486
28 Disaggregated import demand functions for the Italian economy 510
Index 527
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