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Credit, Money and Crises in Post-Keynesian Economics

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Credit, Money and Crises in Post-Keynesian Economics

9781786439543 Edward Elgar Publishing
Edited by Louis-Philippe Rochon, Full Professor, Laurentian University, Canada, Editor of Review of Political Economy and Founding Editor Emeritus, Review of Keynesian Economics and Hassan Bougrine, Full Professor, Laurentian University, Canada
Publication Date: July 2020 ISBN: 978 1 78643 954 3 Extent: 384 pp
In this volume, Louis-Philippe Rochon and Hassan Bougrine bring together key post-Keynesian voices in an effort to push the boundaries of our understanding of banks, central banking, monetary policy and endogenous money. Issues such as interest rates, income distribution, stagnation and crises – both theoretical and empirical – are woven together and analysed by the many contributors to shed new light on them. The result is an alternative analysis of contemporary monetary economies, and the policies that are so needed to address the problems of today.

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Critical Acclaim
Contributors
Contents
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In this volume, Louis-Philippe Rochon and Hassan Bougrine bring together key post-Keynesian voices in an effort to push the boundaries of our understanding of banks, central banking, monetary policy and endogenous money. Issues such as interest rates, income distribution, stagnation and crises – both theoretical and empirical – are woven together and analysed by the many contributors to shed new light on them. The result is an alternative analysis of contemporary monetary economies, and the policies that are so needed to address the problems of today.

Students and professors of economics, policymakers interested in alternative policies, academics and scholars in all fields will benefit from the explorations therein, and would also appreciate the companion publication, Economic Growth and Macroeconomic Stabilization Policies in Post-Keynesian Economics, also published by Edward Elgar Publishing.
Critical Acclaim
‘This is an outstanding, wide-ranging collection of seventeen state-of-the-art essays on endogenous money, banking and monetary policy. The riveting essays are deeply engaging, well written, with a keen eye on current real-world developments and great clarity in exposition. The analyses are solidly grounded in the history of economic thought and all authors bring a commendable commitment to not just understand the world of money and banking, but also to improve the workings of our monetary economies for the common good. A must read.’
– Servaas Storm, Delft University of Technology, the Netherlands
Contributors
Contributors include: R. Bellofiore, H. Bougrine, J. Chen, L. Cordonnier, E. Correa, S. Dow, T. Ferguson, G. Fontana, C. Gnos, R. Guttmann, P.D. Jorgensen, P. Kriesler, E. Le Heron, J. Leclaire, V. Monvoisin, A. Parguez, E. Pérez Caldentey, P. Petit, J.-F. Ponsot, L.-P. Rochon, S. Rossi, S. Thabet, J. Toporowski, M. Vernengo












Contents
Contents:

INTRODUCTION
Louis-Philippe Rochon and Hassan Bougrine

PART 1: MONEY, INCOME DISTRIBUTION AND POST-KEYNESIAN ECONOMICS
1. Celebrating Pioneers
Louis-Philippe Rochon and Hassan Bougrine

2. Understanding Credit-Money: Lavoie and Seccareccia’s Contribution to Monetary Theory Robert Guttmann

3. Money, State and Growth of Welfare: Fighting the dangerous transformation of capitalism
Alain Parguez and Slim Thabet

4. Two Easy Pieces
Riccardo Bellofiore 

5. The Role of Stabilization Policies in the New Consensus Macroeconomics (NCM):
Modern Lessons from John Kenneth Galbraith
Giuseppe Fontana

6. The Macroeconomic Dimension of Money
Virginie Monvoisin and Jean-Francois Ponsot

7. The Theory of Money, Interest and Unemployment
Hassan Bougrine

8. International Money: Where do we stand?
Claude Gnos and Sergio Rossi

9. Endogenous Money, Liquidity Preference and Confidence:
For a qualitative theory of money
Edwin Le Heron

10. High Finance, Political Money, and the U.S. Congress:
A Quantitative Assessment of the Campaign to Roll Back Dodd-Frank
Thomas Ferguson, Paul Jorgensen, and Jie Chen

11. International Rentiers, Finance and Income Distribution:
A Latin American and post-Keynesian Perspective
Esteban Pérez Caldentey and Matías Vernengo

PART 2: CRISES AND POST-KEYNESIAN ECONOMICS
12. Is Macro in Crisis?
Sheila Dow

13. Stagnation and Crisis:  Understanding Credit Flows in Latin America from a Circuitist Perspective
Eugenia Correa and Wesley Marshall

14. Secular Stagnation and the Curse of Contemporary Eldorados: What ever happened to broad-impact products?
Laurent Cordonnier

15. Seccareccia and Lavoie on Financial Crises: Linking the Real and Financial Sectors of the Economy: The Major Contribution of Post-Keynesians
Joelle Leclaire

16. On the changing nature and geography of crises: lessons for a sustainable internationalization
Pascal Petit

17. Banking and Financial Crises
Jan Toporowski

Index

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