Post-Keynesian Institutionalism after the Great Recession
AbstractThis paper surveys the context and contours of contemporary Post-Keynesian Institutionalism (PKI). It begins by reviewing recent criticism of conventional economics by prominent economists as well as examining, within the current context, important research that paved the way for PKI. It then sketches essential elements of PKI--drawing heavily on the contributions of Hyman Minsky--and identifies directions for future research. Although there is much room for further development, PKI offers a promising starting point for economics after the Great Recession.
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Bibliographic InfoPaper provided by Levy Economics Institute in its series Economics Working Paper Archive with number wp_724.
Date of creation: May 2012
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Web page: http://www.levyinstitute.org
Post-Keynesian Institutionalism; Institutional Economics; Post-Keynesian Economics; Financial Instability; Money-Manager Capitalism; Hyman Minsky;
Find related papers by JEL classification:
- B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian
- B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-05-29 (All new papers)
- NEP-HME-2012-05-29 (Heterodox Microeconomics)
- NEP-HPE-2012-05-29 (History & Philosophy of Economics)
- NEP-PKE-2012-05-29 (Post Keynesian Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- L. Randall Wray, 2009. "The rise and fall of money manager capitalism: a Minskian approach," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 33(4), pages 807-828, July.
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