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The economist who mistook his model for a market

In: Teaching Post Keynesian Economics

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  • Roy J. Rotheim

Abstract

This book contends that post Keynesian economics has its own methodological and didactic basis, and its realistic analysis is much-needed in the current economic and financial crisis. At a time when the original message of Keynes’ General Theory is no longer present in most university syllabuses, this book celebrates the uniqueness of teaching post Keynesian economics, providing comparisons with traditional economic rationale and illustrating the advantages of post Keynesian pedagogy.

Suggested Citation

  • Roy J. Rotheim, 2013. "The economist who mistook his model for a market," Chapters, in: Jesper Jespersen & Mogens Ove Madsen (ed.), Teaching Post Keynesian Economics, chapter 2, pages 34-55, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:15414_2
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    References listed on IDEAS

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    1. Mary Daly & Bart Hobijn & Aysegul Sahin & Robert Valletta, 2011. "A Rising Natural Rate of Unemployment: Transitory or Permanent?," Tinbergen Institute Discussion Papers 11-160/3, Tinbergen Institute.
    2. G. C. Harcourt, 1981. "Marshall, Sraffa and Keynes: Incompatible Bedfellows," Eastern Economic Journal, Eastern Economic Association, vol. 7(1), pages 39-50, Jan-Mar.
    3. Roy J. Rotheim, 2006. "Persuasive devices," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 30(4), pages 613-635, July.
    4. Edward P. Lazear & James R. Spletzer, 2012. "The United States labor market: status quo or a new normal?," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 405-451.
    5. Barbara Petrongolo & Christopher A. Pissarides, 2008. "The Ins and Outs of European Unemployment," American Economic Review, American Economic Association, vol. 98(2), pages 256-262, May.
    6. Sheila C Dow, 2012. "Different Approaches to the Financial Crisis," Economic Thought, World Economics Association, vol. 1(1), pages 1-4, July.
    7. Joan Robinson, 1962. "Essays in the Theory of Economic Growth," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-00626-7.
    8. Christopher A. Pissarides, 2009. "The Unemployment Volatility Puzzle: Is Wage Stickiness the Answer?," Econometrica, Econometric Society, vol. 77(5), pages 1339-1369, September.
    9. Chick, Victoria & Dow, Sheila C, 2001. "Formalism, Logic and Reality: A Keynesian Analysis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 25(6), pages 705-721, November.
    10. Mr. Marcello M. Estevão & Ms. Evridiki Tsounta, 2011. "Has the Great Recession Raised U.S. Structural Unemployment?," IMF Working Papers 2011/105, International Monetary Fund.
    11. Andrew Mearman, 2006. "Critical realism in economics and open-systems ontology: A critique," Review of Social Economy, Taylor & Francis Journals, vol. 64(1), pages 47-75.
    12. Roy Rotheim, 1998. "On Closed Systems and the Language of Economic Discourse," Review of Social Economy, Taylor & Francis Journals, vol. 56(3), pages 324-334.
    13. Murat Tasci & Saeed Zaman, 2010. "Unemployment after the recession: a new natural rate?," Economic Commentary, Federal Reserve Bank of Cleveland, issue Sep.
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