Post-Keynesian Essays from Down Under Volume II: Essays on Policy and Applied Economics: Theory and Policy in an Historical Context

by G. Harcourt, Peter Kriesler, Joseph Halevi, John Nevile

Overview

Joseph Halevi, G. C. Harcourt, Peter Kriesler and J. W. Nevile bring together a collection of their most influential papers on post-Keynesian thought. Their work stresses the importance of the underlying institutional framework, of the economy as a historical process and, therefore, of path determinacy. In addition, their essays suggest the ultimate goal of economics is as a tool to inform policy and make the world a better place, with better being defined by an overriding concern with social justice. Volume II assess application and policies.

Product Details

ISBN-13:	9781137475343
Publisher:	Palgrave Macmillan UK
Publication date:	01/14/2014
Edition description:	2016
Pages:	434
Product dimensions:	5.51(w) x 8.50(h) x 0.04(d)

About the Author

Joseph Halevi was born 1946 in Haifa, then British Palestine. An Alama Mater University of Rome La Sapienza, he began teaching economics at the New School of Social Research in New York and later at Rutgers University. He has a permanent appointment at the University of Sydney. He was Visiting Professor at the University of Connecticut and regularly in France at the Universities of Grenoble, Nice and Amiens. He has authored many books and contributed to the first edition of The New Palgrave Dictionary of Economics in 1987 and co-edited Beyond the Steady State with Macmillan in 1992, among others.

G. C. Harcourt was born in Melbourne, Australia in 1931. He was a graduate of the Universities of Melbourne and Cambridge. He has worked mainly at Adelaide (1958 to 1985) and Cambridge (1964 to 1966; 1972 to 1973; 1980; 1982-2010). He is now Visiting Professorial Fellow at UNSW Australia. He has authored or edited 29 books and over 360 articles, notes, chapters inbooks and reviews. His books include Some Cambridge Controversies in the Theory of Capital (1972), The Structure of Post-Keynesian Economics (2006), (with Prue Kerr) Joan Robinson (2009) and (jointly edited with Peter Kriesler) The Oxford Handbook of Post-Keynesian Economics (2013).

Peter Kriesler currently teaches in the School of Economics at the University of New South Wales. He also organizes the Annual Australian Society of Heterodox Economists Conference, which is now in its fourteenth year. Peter's main publications are in the areas of history of economic thought, heterodox economics, the Australian economy, labour economics, and economic perspectives on human rights.

J. W. Neville is Emeritus Professor at the University of New South Wales in Sydney, Australia. He has published extensively on fiscal policy, macroeconomic policy in general, economics and ethics, and the history of economic thought. He has served on a number of statutory authorities and government enquiries.

Table of Contents

List of Figures

List of Tables

Preface

1.Tools of choice for fighting recessions
Nevile and Kriesler
2.Macroeconomic impacts of globalization
Kriesler and Nevile
3.Exchange rates and the macroeconomy in an era of global financial crises, with special reference to Australia
Kriesler, Nevile and Harcourt
4.A critique of the New Consensus View of monetary policy
Kriesler and Marc Lavoie
5.The current financial crisis: causes and policy
Kriesler
6.The current crisis has a silver lining
Nevile
7.The ABC of G and T
Harcourt
8.The systemic downside of flexible labour market regimes: Salter revisited
Harcourt
9.Political aspects of buffer stock employment
Kriesler and Halevi
10.How voluntary is unemployment? Two views of the Phillips curve
Nevile
Australia
11.A simple econometric model of the Australian economy
Nevile
12.Can Keynesian policies stimulate growth in output and employment?
Nevile
13.Australian economic growth: a structural perspective (a preliminary report)
Halevi and Kriesler
14.Corporatism in Australia
Kriesler and Halevi
15.Structural change and economic growth
Halevi and Kriesler
16.Why Keynesian policy was more successful in the fifties and sixties than in the last twenty years
Nevile and Kriesler
17.The share of wages in income in Australia
Nevile
18.Inflation in Australia: causes and cures
Nevile
19.The effects of immigration on unemployment
Nevile
20.The effects of the immigration of low-skilled workers on unemployment
Nevile and Kriesler
21.Why privatize airports?
Kriesler
World Economy
22.Asia, Japan and the internationalization of effective demand
Kriesler and Halevi
23.History, politics, and effective demand in Asia
Halevi and Kriesler
24.Stagnation and economic conflict in Europe
Halevi and Kriesler
25.The changing patterns of accumulation and realization in East Asia since the 1990s
Halevi and Kriesler
26.The accumulation process in Japan and East Asia as compared with the role of Germany in European post-war growth
Halevi
27.The EMS and the Bundesbank in Europe
Halevi
28.The Argentine crisis
Halevi
29.Imperialism today
Halevi

Editorial Reviews

'The 29 incisive essays in this book will be of great interest not only to Australians but to everyone concerned with the constraints on progressive economic policy in a small open economy. The four distinguished authors cover a wide range of topics, from unemployment and inflation to financial crises and the economics of imperialism. In an age when old truths have been forgotten, and ancient fallacies revived, the lucid Post Keynesian arguments of Halevi, Harcourt, Kriesler and Nevile deserve to reach a very wide audience.'

J.E. King, La Trobe University and Federation University Australia, Australia

'With this second volume of Post-Keynesian Essays from Down Under Halevi, Harcourt, Kriesler and Nevile have provided us with yet another marvel of collective brilliance 'made in Australia': Spanning core policy debates across several decades and four continents, these influential papers are a tour de force in what sets apart Post-Keynesianism, at its best, from presently dominant economic paradigms: Policy analysis properly grounded in theory, theory properly grounded in history and both, applied and theoretical analyses, stringently focused on how best to improve the lives of ordinary people. A wonderful and inspiring read all around, full of small gems of historical detail and as utterly relevant now as at the various times of writing the individual contributions.'

Stephanie Blankenburg, Department of Economics, School of Oriental and African Studies (SOAS), UK

From the Publisher