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Heise, Arne - 2024

Controversy is vital in the pursuit of knowledge. Constructive dispute can drive intellectual growth and deepen understanding within a field. However, mutual respect, thorough engagement, and intellectual humility are necessary for productive exchanges. In this vein, I clarify in my response to...

Persistent link: https://www.econbiz.de/10014631926

Keynes and the drunkard under the lamp post : making sense of Palley

Heise, Arne - 2023

In a recent article, Tom Palley begins his critique of Keynesian economics with the well-known story of a drunkard who, when searching for his lost keys, looks not in the darkness of the nearby lawn where he misplaced them, but instead under the light cone of a lamp post because, when asked, he...

Persistent link: https://www.econbiz.de/10014330958

The dismal state of macroeconomics and the opportunity for a new beginning

Wray, L. Randall - 2011

General Theory. It essentially reduced Keynes to sticky wages and prices, with nonneutral money only in the case of fooling …

Persistent link: https://www.econbiz.de/10010281727

The dismal state of macroeconomics and the opportunity for a new beginning

Wray, L. Randall - 2011

12 and 17 of the General Theory. It essentially reduced Keynes to sticky wages and prices, with nonneutral money only in … ; New Classical ; New Monetary Consensus ; Monetary Theory of Production ; Effective Demand ; Special Properties of Money …

Persistent link: https://www.econbiz.de/10008906589

Reconciling facts with fiction : minimum wages in a post-Keynesian perspective

Heise, Arne - 2017

There has long been a discussion about the employment impact of minimum wages and this discussion has recently been renewed with the introduction of an economy-wide, binding minimum wage in Germany in 2015. In traditional reasoning, based on the allocational approach of modern labour market...

Persistent link: https://www.econbiz.de/10011704311

How to pay for the Green New Deal

Nersisyan, Yeva; Wray, L. Randall - 2019

to put in place anti-inflationary measures, such as well-targeted taxes, wage and price controls, rationing, and … conclude that it is likely that the GND can be phased in without inflation, but if price pressures do appear, deferring a small …

Persistent link: https://www.econbiz.de/10012016741

Introducing minimum wages in Germany : employment effects in a post Keynesian perspective

Heise, Arne; Pusch, Toralf - 2018 - Revised version

There has been a long discussion about the employment impact of minimum wages and this discussion has recently been renewed with the introduction of an economy-wide, binding minimum wage in Germany in 2015. In traditional reasoning, based on the allocational approach of modern labour market...

Persistent link: https://www.econbiz.de/10011803177

Keynes after 75 years : rethinking money as a public monopoly

Wray, L. Randall - 2011

which money is neutral, at least in the long run; and the Marx-Veblen-Keynes approach, or the monetary theory of production …In this paper I first provide an overview of alternative approaches to money, contrasting the orthodox approach, in …. I then focus in more detail on two main categories: the orthodox approach that views money as an efficiency …

Persistent link: https://www.econbiz.de/10008906545

Keynes after 75 Years : Rethinking Money as a Public Monopoly

Wray, L. Randall - 2011

Persistent link: https://www.econbiz.de/10013128005

The incommensurability of Keynes’s and Walrasian economics and the unsuccessful escape from old ideas

Heise, Arne - In: Economic thought 10 (2021) 2, pp. 12-19

reconcile Pernecky and Wojick’s claim that Keynes’s new economics of the General Theory and Walrasian General Equilibrium are …’s appraisal of Keynes’s paradigm as a better approximation to the ‘real world’ than Walsrasian General Equilibrium is inconsistent …

Persistent link: https://www.econbiz.de/10013173052