Distribution and growth after Keynes a post-Keynesian guide
'At a time when both the academic and the political establishment combine to convince us that there is no alternative to finance dominated capitalism, this lucidly argued book provides a refreshing intellectual challenge to conventional wisdom. Despite its relatively modest title in Distributio...
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| Format: | eBook |
| Language: | English |
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Cheltenham
Edward Elgar Pub. Ltd
2014
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| Collection: | Edward Elgar eBook Archive - Collection details see MPG.ReNa |
| Summary: | 'At a time when both the academic and the political establishment combine to convince us that there is no alternative to finance dominated capitalism, this lucidly argued book provides a refreshing intellectual challenge to conventional wisdom. Despite its relatively modest title in Distribution and Growth after Keynes: A Post-Keynesian Guide Professor Eckhard Hein achieves much more than just guiding the reader through the literature. With many original insights he discriminates with masterly skill among a wide range of theories about long term capitalistic growth, contrasting them against mainstream neoclassical growth models. He weaves his argument with stylized facts and statistical analyses to provide us with a coherent view of complex issues like class conflict and cooperation, the nature of the modern firm and its financial structure, technical progress, external trade and financial globalization, topics not dealt with in most over-simplified aggregate growth models. 1. Introduction -- 2. From Keynes to Domar and Harrod : considering the capacity effect of investment and an attempt at dynamic theory -- 3. Neoclassical distribution and growth theory : old and new - and a critique -- 4. Post-Keynesian distribution and growth theories I : Kaldor, Pasinetti, Thirlwall and Robinson -- 5. Post-Keynesian distribution and growth theories II : Kalecki and Steindl -- 6. The basic Kaleckian distribution and growth models -- 7. Extending Kaleckian models I : saving out of wages and open economy issues -- 8. Extending Kaleckian models II : technical progress -- 9. Extending Kaleckian models III : interest and credit -- 10. Extending Kaleckian models IV : finance-dominated capitalism -- 11. The Kaleckian models and classical, Marxian and Harrodian critique -- 12. Conclusions 'At a time where income inequality is once again the focus of attention of economists, politicians and the general public, Hein's book is a welcome and pedagogical addition to the literature as it presents a fully integrated overview of the post-Keynesian models of growth and income distribution, dealing with the classics of the field as well as the latest extensions, to which Eckhard Hein has himself contributed.'--Marc Lavoie, University of Ottawa. This book offers an assessment of theories of distribution and growth after Keynes. It presents an overview of ... The book should be an essential reading not only for all researchers in the area but also for students who want to be equipped to imagine a feasible economic alternative in a rigorous way with the help of economic theory.'--Amit Bhaduri, Jawaharlal Nehru University, India, and Pavia University, Italy. 'The recent global financial and economic recession has underscored the shortcomings of mainstream macroeconomic and growth theory. Hein provides an excellent guide to an alternative theory that draws on the ideas of Kalecki and Steindl. After reviewing the contributions of these pioneers, he provides an authoritative discussion of theoretical models, empirical analyses and controversies related to this tradition. The book can be expected to draw the attention of students and scholars to an approach to the study of growth and distribution that has much to offer.'--Amitava Krishna Dutt, University of Notre Dame, US and FLACSO, Ecuador. |
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| Physical Description: | 576 p |
| ISBN: | 9781783477296 9781783477289 |