The theory of endogenous money supply forms one of the cornerstones of Post Keynesian economics. It has been developing rapidly during the last twenty years, but is still neglected as a theoretical background for practical central bank policy. This may be (among other reasons) due to the...

This paper deals with the so called problem of reconciliation, a contentious and puzzling issue in Post Keynesian monetary theory. The crux of the matter is the question of mechanisms that would reconcile the loan-created supply of deposits with the willingness of agents to hold these deposits....

This paper deals with the so called problem of reconciliation, a contentious and puzzling issue in Post Keynesian monetary theory. The crux of the matter is the question of mechanisms that would reconcile the loan-created supply of deposits with the willingness of agents to hold these deposits....

The theory of endogenous money supply forms one of the cornerstones of Post Keynesian economics. It has been developing rapidly during the last twenty years, but is still neglected as a theoretical background for practical central bank policy. This may be (among other reasons) due to the...

The theory of endogenous money is the cornerstone of Post-Keynesian economics, which dates back to the pioneering writings of authors such as J. Robinson, Kaldor and Kalecki. Second generation Post-Keynesians such as Paul Davidson and Basil Moore have clearly drawn the boundaries of...

In a paper for the Review of Keynesian Economics, Steve Keen recently provided a restatement of his claim that "effective demand equals income plus the change in debt". The aim of the present article is to provide a detailed critique of Keen's argument using an analytical framework pioneered by...

In this Introduction, we discuss the main themes of post-Keynesian economics, and the manner in which they are dealt with by the contributors to the Handbook. In particular, the important aspects of post-Keynesian analysis are identified, and their main critiques of mainstream theory are...

The purpose of this paper is to explore the similarities between Post Keynesian Economics (PKE) and Regulation Theory (RT). It is argued that, despite important differences between these traditions, the analytical contents of PKE and RT display broad similarities with respect to their treatments...

The first part of this review of the Pasinetti's (2010) book on the Keynesian school summarizes the reasons why the Kyenesian theory was an “unaccomplished scientific revolution”. As explained by Pasinetti, Keynes neglected some essential building blocks of his theoretical construction, and...

This paper discusses methodological individualism and the perceived "need" for microfoundations in economic theory. It argues that the persistent focus on microfoundations has led a large part of the field to overlook the complexity of social interactions, the relevance of historical processes,...