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History has witnessed many great individuals who have had unforgettable impact and great influences on societies that they may not last for centuries. Among these, doubtless to say, John Maynard Keynes was one of the most influenced social scientists. It is therefore the subject of this study to...
Persistent link: https://www.econbiz.de/10011111470
In a programmatic article Alfred Eichner explained, from a Post Keynesian perspective, why neoclassical economics is not yet a science. This was some time ago and one would expect that Post Keynesianism, with a heightened awareness of scientific standards, has done much better than alternative...
Persistent link: https://www.econbiz.de/10011260631
many, forming also the basis of Minsky’s long ignored but now, after the 2008-9 crisis, all of a sudden famous explorations … the possibility of going beyond Keynes and Kalecki in terms of a general field theory of global political economy that can …
Persistent link: https://www.econbiz.de/10011259591
The paper, written for the centennial celebration of Kalecki’s birth, considers the legacy for modern macroeconomics of … Kalecki’s theory of income determination, which is reconstructed in its analytical constituent parts, referring in detail to … the original sources. Kalecki’s macroeconomics is notable for having been the first to be built, unlike Keynes’ but alike …
Persistent link: https://www.econbiz.de/10011111115
En los últimos 40 años se ha podido ver una tendencia casi constante y uniforme en todos los países sobre la caída en el peso de las rentas salariales sobre el total. En este trabajo intento dar un repaso básico a las teorías económicas que intentan explicar la distribución funcional de...
Persistent link: https://www.econbiz.de/10011109387
The paper demonstrates possibilities of both convergence to the steady state and emergence of stable growth cycles around it in a simple macrodynamic model of debt-financed investment-led growth. The growth cycles are robust and are generated endogenously, either due to the existence of a...
Persistent link: https://www.econbiz.de/10011107341
This paper focuses on Keynes’s exposition of the Principle of Effective Demand and its generalised mathematical representation – the basis of a Z-D type model. It elaborates on Keynes’s algebraic formulation in the General Theory, relying on interpreters who contributed to the...
Persistent link: https://www.econbiz.de/10005616815
Keynes’s theory of a monetary economy and his liquidity preference theory of investment will be examined in order to highlight the essential properties of money under the conditions of uncertainty, which inevitably prefigures the existence of involuntary unemployment and could – within a...
Persistent link: https://www.econbiz.de/10008839509
We describe Hayek's position on taxation and its subsequent developments. Hayek defends the proportional tax system. If a majority rule corrects deviations from political power must also restrict the conditions of progressive taxation. According to Hayek the progressive tax system (SFP) violates...
Persistent link: https://www.econbiz.de/10011111573
This is an unpublished document on the history of Italian economic planning in the 1970s: a letter of the Italian minister Ugo La Malfa to Claudio Napoleoni
Persistent link: https://www.econbiz.de/10011112532