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Post-Keynesian Economics

Paperback

Post-Keynesian Economics

New Foundations

2nd edition

9781839109638 Edward Elgar Publishing
Marc Lavoie, Professor Emeritus, University of Ottawa, Canada, Professor Emeritus, University of Sorbonne Paris Nord (CEPN), France and FFM Fellow, Institut für Makroöconomie, Düsseldorf, Germany
Publication Date: May 2022 ISBN: 978 1 83910 963 8 Extent: c 680 pp
Students in economics are ever more distressed by the disconnect between mainstream economics and the real world. This book shows how post-Keynesian economics constitutes a coherent heterodox alternative, based on realistic assumptions and the integration of the financial and real sides of the economy, with an emphasis on the many paradoxes that arise in a truly macroeconomic analysis. The book is a considerably revised and updated version of the widely used and frequently cited 2014 edition, which won the EAEPE Myrdal Prize (now the Joan Robinson Prize).
Winner of the EAEPE Myrdal Prize (now the Joan Robinson Prize)

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Students in economics are ever more distressed by the disconnect between mainstream economics and the real world. This book shows how post-Keynesian economics constitutes a coherent heterodox alternative, based on realistic assumptions and the integration of the financial and real sides of the economy, with an emphasis on the many paradoxes that arise in a truly macroeconomic analysis.

The book is a considerably revised and updated version of the widely used and frequently cited 2014 edition, which won the EAEPE Myrdal Prize (now the Joan Robinson Prize). It provides an exhaustive account of post-Keynesian theory and policy. Topics covered include its methodological foundations, consumer theory and choice under fundamental uncertainty, firms and pricing, money and credit, effective demand and employment, growth theory, open-economy issues, inflation theory. It also links up with ecological economics.

Scholars of economics, particularly post-Keynesian and heterodox economists, will find this comprehensive look at the field a necessary addition to their libraries and students and instructors will find it a perfect text for any class on post-Keynesian economics.
Critical Acclaim
Winner of the EAEPE Myrdal Prize (now the Joan Robinson Prize)

‘Marc Lavoie’s thoroughly revised Post-Keynesian Economics provides an irrefutable critique of mainstream economics, which is becoming ever more recondite and irrelevant. But the book does much more, offering the clear prospect of an intellectual renewal of both micro- and macroeconomics, firmly founded on realistic assumptions relevant for a world of fundamental uncertainty and integrating finance and the real economy. Lavoie’s Foundations, unparalleled in its coverage of establishment and post-Keynesian micro- and macroeconomics, is a work of lasting importance. An amazing feat.’
– Servaas Storm, Delft University of Technology, the Netherlands

Acclaim for the first edition:

‘I am delighted to have been invited to present a discussion of Marc Lavoie’s Post-Keynesian Economics: New Foundations. I was contemplating whether to give my short review, “it’s a brilliant book, you must buy it”, or my longer and more considered review, “it’s a brilliant book, you must buy it and I wish I had written it”! . . . it is a book every economist should have on his (or her) shelf, placed within easy reach.’
– John McCombie, European Journal of Economics and Economic Policies: Intervention

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