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Keynes, Uncertainty and the Global Economy

Beyond Keynes, Volume Two Edited by Sheila C. Dow, Emeritus Professor of Economics, University of Stirling, UK and John Hillard, Director of Taught Postgraduate Programmes, Leeds University Business School, UK
The revival of interest in Keynesian economics since the late 1980s reinstates the importance of Keynes’s contribution to economic theory and policy. This is the second of two volumes in which authoritative contributions are presented by an outstanding group of international experts to celebrate Keynesian economics, and to review and further the developments of post Keynesian economics of recent years.
In Association with the Post Keynesian Economics Study Group
Extent: 336 pp
Hardback Price: $154.00 Web: $138.60
Publication Date: 2002
ISBN: 978 1 85898 797 2
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  • Economics and Finance
  • Post-Keynesian Economics
The revival of interest in Keynesian economics since the late 1980s reinstates the importance of Keynes’s contribution to economic theory and policy. This is the second of two volumes in which authoritative contributions are presented by an outstanding group of international experts to celebrate Keynesian economics, and to review and further the developments of post Keynesian economics of recent years.

This volume is divided into three sections, the first of which examines general issues including investment, microfoundations, labour economics and monetary theory. In the second part the discussion is extended to uncertainty and addresses the associated issues of rationality, trust, and speculation. The third and final section focuses on international economics and considers the theory of comparative advantage, the fight against speculation in foreign exchange markets, Tobin’s transactions tax and the Maastricht Treaty.

This book will be welcomed by post Keynesian economists, microeconomists and those interested in international economics.
Contributors: P. Arestis, A. Carabelli, V. Chick, P. Davidson, A. Fitzgibbons, G. Fontana, M.C. Howard, J. Jespersen, S. Kayatekin, J. King, R.C. Kumar, P. Mini, M.-S. Park, N. Shapiro, M. Sawyer, A. Vercelli
Contents

Preface
G.C. Harcourt

Introduction
Sheila C. Dow and John Hillard

1. The microeconomic foundations of Keynesian economics
Athol Fitzgibbons

2. Keynes’s ‘microeconomics’: some lessons
Piero V. Mini

3. Market structure, uncertainty and unemployment
Malcolm Sawyer and Nina Shapiro

4. Keynes’s theory of investment and necessary compromise
Victoria Chick

5. Some elements of a Post Keynesian labour economics
John E. King

6. Uncertainty, rationality and learning: a Keynesian perspective
Alessandro Vercelli

7. Organicism, uncertainty and ‘societal interactionism’: a Derridean perspective
Man-Seop Park and Serap Kayatekin

8. Classical liberalism in an environment of rational choice involving commitment and security as well as greed
M.C. Howard and R.C. Kumar

9. Some notes on the monetary debate within the Post Keynesian school
Giuseppe Fontana

10. Speculation and reasonableness: a non-Bayesian theory of rationality
Anna Carabelli

11. The Maastricht Treaty: unemployment, competitiveness and distribution
Jesper Jespersen

12. Policies for fighting speculation in foreign exchange markets: the Tobin tax versus Keynes’s views
Paul Davidson

13. An evaluation of the Tobin transactions tax
Philip Arestis and Malcolm Sawyer

14. Say’s Law in the open economy: Keynes’s rejection of the theory of comparative advantage
William Milberg

Bibliography

Index