Within the theory of society in Why Work , modern economic development is linked directly to the effort of citizens in their daily work. The general theory of psychology in The Origin of Consciousness describes the causality of individual mood and conduct and shows how there is no causality in...

Frontmatter -- Contents -- Preface -- Macroeconomics -- Macroeconomic Thought during the Long Nineteenth Century -- Gold Standard, Reparations,Mania, Crash, and Depression -- Maynard Ascendant -- Keynesian Growth, Cycles, and Crisis -- The Counterrevolution -- Finance -- The International...

Macroeconomics -- Macroeconomic thought during the long nineteenth century -- Gold standard, reparations, mania, crash, and depression -- Maynard ascendant -- Keynesian growth, cycles, and crisis -- The counter-revolution -- Finance -- The international dimension -- Keynesianism and the crisis

Intro -- Contents -- Preface -- 1. Macroeconomics -- 2. Macroeconomic Thought during the Long Nineteenth Century -- 3. Gold Standard, Reparations, Mania, Crash, and Depression -- 4. Maynard Ascendant -- 5. Keynesian Growth, Cycles, and Crisis -- 6. The Counterrevolution -- 7. Finance -- 8. The...

In the long run, we are all dead. Nonetheless, when studying the short-run dynamics of economic models, it is crucial to consider boundary conditions that govern long-run, forward-looking behavior, such as transversality conditions. We demonstrate that machine learning (ML) can automatically...

In this study, a Kaleckian-Post-Keynesian macroeconomic model, which is an extended version of the Bhaduri and Marglin (1990) model, serves as the starting point. The merit of a Kaleckian model for our purposes is that it highlights the dual function of wages as a component of aggregate demand...

This working paper is intended to be a chapter in a forthcoming book, tentatively titled Macroeconomics with Excel. The printed book will be a manual for professors, while the Excel workbooks are freely available to students. See www.depauw.edu/learn/macroexcel for more information on this...

The paper investigates the relation between effective demand, income distribution and unemployment empirically. Its aim is to evaluate Keynesian, Kaldorian and neoclassical hypotheses about the determination of labor market variables. To do so, a vector autoregression model consisting of capital...

Economists have studied for a long time how decision-makers allocate scarce resources. The recent literature on rational inattention studies how decision-makers allocate the scarce resource attention. The idea is that decision-makers have a limited amount of attention and have to decide how to...