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Is There a Case for Post Keynesian Economics?

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  • Chick, Victoria

Abstract

The charges laid against post-Keynesian economics range from finding it difficult to identify except by its rejection of neoclassical economics, unscientific, old-fashioned, 'not theory,' even 'not economics.' These criticisms reveal strong assumptions about what 'proper' economic theory is and how it is to proceed as well as reflecting an outmoded view of science. The basic principles of post-Keynesian economics are elaborated, through which the methodological nature of the criticisms become apparent. The final section outlines several distinctive and important contributions of post-Keynesian economics. Copyright 1995 by Scottish Economic Society.

Suggested Citation

  • Chick, Victoria, 1995. "Is There a Case for Post Keynesian Economics?," Scottish Journal of Political Economy, Scottish Economic Society, vol. 42(1), pages 20-36, February.
    • Handle: RePEc:bla:scotjp:v:42:y:1995:i:1:p:20-36
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    Cited by:

    1. Geoff Tily, 2023. "Victoria Chick's Keynes in Time," Development and Change, International Institute of Social Studies, vol. 54(5), pages 1296-1330, September.
    2. Marc Lavoie, 2001. "Endogenous Money in a Coherent Stock-Flow Framework," Economics Working Paper Archive wp_325, Levy Economics Institute.
    3. Annina Kaltenbrunner, 2018. "Financialised internationalisation and structural hierarchies: a mixed-method study of exchange rate determination in emerging economies," Cambridge Journal of Economics, Oxford University Press, vol. 42(5), pages 1315-1341.
    4. Yannis Panagopoulos & Aristotelis Spiliotis, 2006. "Testing Money Supply Endogeneity: The Case of Greece (1975-1998)," European Research Studies Journal, European Research Studies Journal, vol. 0(1-2), pages 85-102.
    5. Marc Lavoie & Wynne Godley, 2000. "Kaleckian Models of Growth in a Stock-Flow Monetary Framework: A Neo-Kaldorian Model," Economics Working Paper Archive wp_302, Levy Economics Institute.
    6. 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.
    7. Malcolm Sawyer, 2020. "The past, present and future of evolutionary macroeconomics," Review of Evolutionary Political Economy, Springer, vol. 1(1), pages 37-54, May.
    8. Giuseppe Fontana & Bill Gerrard, 2006. "The future of Post Keynesian economics," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 59(236), pages 49-80.
    9. Giuseppe Fontana & Andrea Pacella & Riccardo Realfonzo, 2017. "Does fiscal policy affect the monetary transmission mechanism? A monetary theory of production (MTP) response to the new consensus macroeconomics (NCM) perspective," Metroeconomica, Wiley Blackwell, vol. 68(2), pages 378-395, May.
    10. Cuauhtémoc CALDERON & L. HERNANDEZ BIELMA, 2006. "L'offre monétaire au Mexique," LEO Working Papers / DR LEO 889, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    11. Ivan V. Rozmainsky, 2015. "Investor myopia and persistence of the global crisis- a post Keynesian view," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 11(1), pages 107-116.
    12. Costa, Leopoldo & Teixeira, Joanilio Rodolpho, 2018. "Structural change with different consumption profiles in a pure labour economy," Structural Change and Economic Dynamics, Elsevier, vol. 47(C), pages 28-34.

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