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Responses to Lavoie, King, and Dow on what Post Keynesianism is and who is a Post Keynesian

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  • PAUL DAVIDSON

Abstract

This paper responds to the criticism that many heterodox economists, who want to be labeled as Post Keynesians, are rejected by my defining Post Keynesian theory as limited to those theories that adopt Keynes's analytical framework of aggregate demand and supply functions derived from the rejection of three restrictive classical axioms--that is, the gross substitution axiom, the neutral money axiom, and the ergodic axiom (or ordering axiom in deterministic models).

Suggested Citation

  • Paul Davidson, 2005. "Responses to Lavoie, King, and Dow on what Post Keynesianism is and who is a Post Keynesian," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 27(3), pages 393-408.
    • Handle: RePEc:mes:postke:v:27:y:2005:i:3:p:393-408
    DOI: 10.1080/01603477.2005.11051447
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    Cited by:

    1. Arne Heise, 2014. "The Future of Economics in a Lakatos–Bourdieu Framework," International Journal of Political Economy, Taylor & Francis Journals, vol. 43(3), pages 70-93, July.
    2. Heise, Arne, 2018. "Postkeynesianismus: Ein heterodoxer Ansatz auf der Suche nach einer Fundierung," ZÖSS-Discussion Papers 69, University of Hamburg, Centre for Economic and Sociological Studies (CESS/ZÖSS).
    3. J. E. King, 2012. "Post Keynesians and Others," Review of Political Economy, Taylor & Francis Journals, vol. 24(2), pages 305-319, April.
    4. Marc Lavoie, 2020. "Was Hyman Minsky a post-Keynesian economist?," Review of Evolutionary Political Economy, Springer, vol. 1(1), pages 85-101, May.
    5. James P. Gander, 2009. "Firm Debt Structure and Firm Size," Working Paper Series, Department of Economics, University of Utah 2009_09, University of Utah, Department of Economics.
    6. Matías Vernengo, 2010. "Conversation or monologue? on advising heterodox economists," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 32(3), pages 389-396, April.
    7. Arne Heise, 2022. "The Incommensurability of Keynes's and Walrasian Economics and the Unsuccessful Escape from Old Ideas," Economic Thought, World Economics Association, vol. 10(2), pages 12-19, February.
    8. Eduardo Fernández-Huerga & Ana Pardo & Ana Salvador, 2023. "Compatibility and complementarity between institutional and post-Keynesian economics: a literature review with a particular focus on methodology," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 40(2), pages 413-443, July.
    9. Massimo Cingolani, 2015. "Sylos Labini su Marx: implicazioni per la politica economica (Sylos Labini on Marx: economic policy implications)," Moneta e Credito, Economia civile, vol. 68(269), pages 81-147.
    10. Massimo Cingolani, 2008. "Full Employment as a Possible Objective for EU Policy I. A Perspective From the Point of View of The Monetary Circuit," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 55(1), pages 89-114, March.
    11. Victoria Chick, 2013. "The future is open: on open-system theorising in economics," Chapters, in: Jesper Jespersen & Mogens Ove Madsen (ed.), Teaching Post Keynesian Economics, chapter 3, pages 56-72, Edward Elgar Publishing.
    12. Corrado Andini, 2009. "Teaching Keynes’s Principle of Effective Demand within the Real Wage vs. Employment Space," Forum for Social Economics, Taylor & Francis Journals, vol. 38(2-3), pages 209-228, January.
    13. Heise, Arne, 2023. "Keynes and the drunkard under the lamp post: Making sense of Palley," ZÖSS-Discussion Papers 103, University of Hamburg, Centre for Economic and Sociological Studies (CESS/ZÖSS).
    14. Finn Olesen, 2013. "Teaching macroeconomics: seeking inspiration from Paul Davidson," Chapters, in: Jesper Jespersen & Mogens Ove Madsen (ed.), Teaching Post Keynesian Economics, chapter 8, pages 134-149, Edward Elgar Publishing.
    15. Kemp-Benedict, Eric, 2014. "The inverted pyramid: A neo-Ricardian view on the economy–environment relationship," Ecological Economics, Elsevier, vol. 107(C), pages 230-241.
    16. Heise, Arne, 2019. "Post-Keynesian Economics - Challenging the Neo-Classical Mainstream," MPRA Paper 99280, University Library of Munich, Germany.

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