This is a unique, comprehensive and international history of the post Keynesian approach to economics since 1936. The author locates the origins of post Keynesian economics in the conflicting initial interpretations of Keynes's General Theory and in the complementary work of Michal Kalecki.
The book begins by focusing on Cambridge Growth, Distribution and Capital theory and early post Keynesian thought in the US. The failure of post Keynesian theory to supplant the neo-classical paradigm in the 1970s is also discussed, along with an overview of post Keynesian thinking in other countries. The book then deals with the search for coherence between various strands of post Keynesian thought and other schools of economic thought. The author concludes by assessing the progress made by post Keynesian economics since 1936 and considers several possible alternative futures for the post Keynesians.
Historians of economic thought as well as post Keynesian and other heterodox economists will warmly welcome A History of Post Keynesian Economics.
J.E. King, Emeritus Professor, La Trobe University, Australia and Honorary Professor, Federation University Australia
Contents: Introduction 1. First Reactions to The General Theory 2. An Economist from Poland 3. Generalizing The General Theory 4. Those Cambridge Controversies 5. Outside Cambridge: The First US Post Keynesians 6. Against the Mainstream: Post Keynesian Economics in the 1970s 7. Economic Heresy Around the World 8. Money and the Monetarists 9. Uncertainty, Expectations and Method 10. Keynes, Kalecki, Sraffa: Coherence? 11. Post Keynesians and Other Deviants 12. A Promise that Bounced? References Index