Post-Keynesian Essays from Down Under Volume IV: Essays on Theory: Theory and Policy in an Historical Context

Description

Joseph Halevi, G. C. Harcourt, Peter Kriesler and J. W. Nevile bring together a collection of their most influential papers on post-Keynesian thought. Their work stresses the importance of the underlying institutional framework, of the economy as a historical process and, therefore, of path determinacy. In addition, their essays suggest the ultimate goal of economics is as a tool to inform policy and make the world a better place, with better being defined by an overriding concern with social justice. Volume IV explores theory. Front Matter ....Pages i-xiv Introduction (Joseph Halevi)....Pages 1-11 Front Matter ....Pages 13-13 The Crisis in Mainstream Economics (G. C. Harcourt)....Pages 15-22 On the Concepts of Period and Run in Economic Theory (G. C. Harcourt)....Pages 23-32 Partial Equilibrium Analysis (Peter Kriesler)....Pages 33-37 Exchange Value (Peter Kriesler)....Pages 38-40 Expectations and Unemployment (J. W. Nevile, Peter Kriesler)....Pages 41-52 Aggregate Demand and Supply Analysis: A Story in the Wrong Language (J. W. Nevile)....Pages 53-67 The Use and Abuse of Aggregate Demand and Supply Functions (J. W. Nevile, B. Bhaskara Rao)....Pages 68-86 Has the Long-Run Phillips Curve Turned Horizontal? (Craig Freedman, G. C. Harcourt, Peter Kriesler)....Pages 87-105 Some Notes on Classical Political Economy and the Rise to Dominance of Supply and Demand Theories (Joseph Halevi)....Pages 106-114 Accumulation, Breakdown Crises, Disproportionality, and Effective Demand (Joseph Halevi)....Pages 115-125 Structure and Growth (Joseph Halevi)....Pages 126-146 Capital and Growth: Its Relevance as a Critique of Neo-Classical and Classical Economic Theories (Joseph Halevi)....Pages 147-164 Marx or Hicks? Structural Proportions and Crisis: The Transition from the First to the Third Volume of Capital (Joseph Halevi, Peter Kriesler)....Pages 165-174 Employment and Planning (Joseph Halevi)....Pages 175-185 The Composition of Investment under Conditions of Non Uniform Changes (Joseph Halevi)....Pages 186-201 Structural Analysis of Development and Underdevelopment (Joseph Halevi)....Pages 202-230 Lowe, Dobb and Hicks (Joseph Halevi)....Pages 231-243 Harcourt, Hicks and Lowe: Incompatible Bedfellows? (Peter Kriesler)....Pages 244-260 The Traverse, Equilibrium Analysis, and Post-Keynesian Economics (Joseph Halevi, Neil Hart, Peter Kriesler)....Pages 261-286 Front Matter ....Pages 287-287 The Structure of Post-Keynesian Economics: The Core Contributions of the Pioneers (G. C. Harcourt)....Pages 289-301 Luigi Pasinetti: The Senior Living Heir of the Cambridge School of Economics and the Last of the Great System-Builders (G. C. Harcourt)....Pages 302-309 Luigi Pasinetti and the Political Economy of Growth and Distribution (Joseph Halevi)....Pages 310-326 The Significance of the Theory of Vertically Integrated Processes for the Problem of Economic Development (Joseph Halevi)....Pages 327-336 Ronald Meek’s “Magnificent” Review Article of Piero Sraffa’s 1960 Classic: Top Hit in Decade 1954–63 (G. C. Harcourt)....Pages 337-339 The Importance of HUMBUG in The Cambridge-Cambridge Controversies in Capital Theory (G. C. Harcourt)....Pages 340-346 Switching and Employment (Joseph Halevi)....Pages 347-354 Multiplier Theory with Tax Rates as Policy Instruments (J. W. Nevile)....Pages 355-372 Capacity Utilization, Inflation, and Monetary Policy: The Duménil and Lévy Macro Model and the New Keynesian Consensus (Marc Lavoie, Peter Kriesler)....Pages 373-387 The New Consensus on Monetary Policy and Its Post-Keynesian Critique (Peter Kriesler, Marc Lavoie)....Pages 388-407 The Rate of Interest (J. W. Nevile)....Pages 408-415 Comment on Professor Lerner’s Paper: A Marxist View (Joseph Halevi)....Pages 416-425 Observations on Kaldorian and Post-Keynesian Approaches to Inflation (Joseph Halevi)....Pages 426-434 Theorizing about Post-Keynesian Economics in Australasia: Aggregate Demand, Economic Growth and Income Distribution Policy (Paul Dalziel, J. W. Nevile)....Pages 435-460 Marxism and Post-Keynesian Economics (Joseph Halevi)....Pages 461-475 Effective Demand, Capacity Utilisation and the Sectoral Distribution of Investment (Joseph Halevi)....Pages 476-491 Capitalism and Post-Keynesian Economics: Some Critical Observations (Joseph Halevi)....Pages 492-510 Back Matter ....Pages 511-525