Contemporary Post Keynesian Analysis

Edited by L. Randall Wray, Senior Scholar and Professor of Economics, Levy Economics Institute, Bard College, US and Mathew Forstater, Associate Professor of Economics and Director, Center for Full Employment and Price Stability, University of Missouri, Kansas City, US

• Contents: Part I: Post Keynesian Perspectives on Current Economic Policy 1. Wage Bargaining and Monetary Policy in the EMU: A Post Keynesian Perspective 2. Public Debt and Private Wealth 3. Exploring the Economics of Euphoria: Using Post Keynesian Tools to Understand the US Bubble and its Aftermath Part II: Post Keynesian Approaches to Monetary Theory and Policy 4. Money in the Time of the Internet: Electronic Money and its Effects 5. Understanding the Implications of Money Being a Social Convention 6. Demand Management and the Monetary System: Do Currency Boards and Currency Unions Spell the End for Keynesian Policy? Part III: Post Keynesian Contributions on Development, Growth and Inflation 7. Stability Conditions for a Small Open Economy 8. Mexico: Strong Currency and Weak Economy 9. Economic Policy of Sustainable Development in the Countries of Transition Towards a Market Economy 10. Allied, German and Latin Perspectives on Inflation Part IV: Kaleckian Perspectives on Growth, Inflation and Distribution 11. Commodity Prices and the Dynamics of Inflation in Australia 12. Innovation and Investment in Capitalist Economies, 1870–2000: Kaleckian Dynamics and Evolutionary Life Cycles 13. Kalecki’s Theory of Income Distribution: The Answer to a Maiden’s Prayer? Part V: Methodology 14. On the Relation Between Individual and Collective Beliefs: A Comparison Between Keynes’s and Heyek’s Economic Theories 15. A Keynesian Critique of Recent Applications of Risk-Sensitive Control Theory in Macroeconomics 16. Presenting ‘Demi-Regularities’ of Pricing Behaviour: The Need for Triangulation Part VI: Issues in the History of Thought 17. Analysing and Fighting Recession with Reference to Keynes 18. From Say’s Law to Keynes, from Keynes to Walras’s Law: Some Ironies in the History of Economic Thought 19. Power of the Firm and New Mercantilism: An Analysis Based on Joan Robinson’s Thought Index

'. . . this book usefully presents topical issues in the field of post Keynesian economics. . . this collection deserves praise for exposing readers to the tradition of economic thought built on the work of Keynes and the Cambridge tradition.'