Title: The Post-Keynesian approach to economics : an alternative analysis of economic theory and policy /
Authors: Arestis, Philip, 1941-
Publisher: Elgar ; Distributed in the U.S. by Ashgate Pub. Co.,
Year: 1992
Subjects: Neoclassical school of economics.; Keynesian economics; Money
Abstract: This major new book provides a coherent critique of the neoclassical synthesis together with a comprehensive and systematic introduction to the post-Keynesian alternatives. Professor Arestis demonstrates that post-Keynesian economics offers a challenge to conventional neoclassical economics. He argues that although post-Keynesianism is not problem-free, it nevertheless offers a more satisfactory explanation of 'real' phenomena.
Contents: 1. The Grand Neo-classical Synthesis. 1.2. The micro and macro aspects of the GNS. 1.3. Economic policy analysis within the GNS. 1.4. Completing the GNS: the Phillips curve relationship. 1.5. The birth of rational expectations -- 2. Refinements of the GNS. 2.2. New classical economics. 2.3. New neo-classical synthesis. 2.4. Open economy aspects. 2.5. The GNS growth model. 2.6. Business cycles -- 3. A Critique of GNS Economics. 3.2. The atomistic, harmony and asocial nature of GNS. 3.3. Income distribution and the meaning of capital. 3.4. Rationality, optimization and equilibrium analysis. 3.5. Economic policy, rational expectations and market clearing. 3.6. Methodological problems -- 4. Post-Keynesian Economics. 4.2. Prolegomena.