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In Defense of Post-Keynesian Economics and Heterodox Economics: Response to their Critics

Author

Listed:
  • Frederic Sterling Lee

    (University of Missouri, Kansas City)

  • Marc Lavoie

    (CEPN - Centre d'Economie de l'Université Paris Nord - UP13 - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique, University of Ottawa [Ottawa])

Abstract

Post-Keynesian and heterodox economics challenge the mainstream economics theories that dominate the teaching at universities and government economic policies. And it was these latter theories that helped to cause the great depression the United States and the rest of the world is in. However, most economists and the top 1% do not want mainstream theories challenged―for to do so would mean questioning why and how the 1% got where they are. Therefore, numerous efforts have been and are being made to discredit if not suppress Post-Keynesian and heterodox economics. These efforts have had some success; this book is a response to them. This book makes it clear that Post Keynesian/heterodox economics is, in spite of internal problems, a viable and important approach to economics and that it should resist the attempts of the critics to bury it. The reader will also find arguments that directly engage the critics and suggest that their views/criticisms are vacuous and wrong. As such, this will appeal to all who are interested in economic theory, economic history and who believe in challenging the orthodoxy.

Suggested Citation

  • Frederic Sterling Lee & Marc Lavoie, 2013. "In Defense of Post-Keynesian Economics and Heterodox Economics: Response to their Critics," Post-Print hal-01343662, HAL.
  • Handle: RePEc:hal:journl:hal-01343662
    Note: View the original document on HAL open archive server: https://hal-univ-paris13.archives-ouvertes.fr/hal-01343662
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    Cited by:

    1. Marc Lavoie, 2016. "Frederic Lee and Post-Keynesian Pricing Theory," Review of Political Economy, Taylor & Francis Journals, vol. 28(2), pages 169-186, April.
    2. repec:taf:jculte:v:9:y:2016:i:6:p:617-621 is not listed on IDEAS

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