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Foundations of Post-Keynesian Economic Analysis
New Directions in Modern Economics Series
This innovative book demonstrates that it is possible to construct a coherent alternative to neoclassical economics based on the contributions of post Keynesian and Kaleckian economists. It identifies elements from the non-orthodox traditions, in particular from the neo-Ricardian school, that can be welded into a convincing alternative theoretical framework.
The building blocks of this synthesis are the non-neo-classical microeconomic foundations of the theory of choice and of the firm. By emphasizing the consequences of a world characterized by true uncertainty and oligopolistic dominance, Marc Lavoie extends short-period paradoxes to the analysis of the long period, and bases these macroeconomic results on microeconomic foundations.
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What Reviewers Are Saying
`. . . [provides] excellent expositions for students [and] should allow discussion to concentrate on the theoretical consistency of the various components of the post Keynesian alternative.' -- J.A. Kregel, The Economic Journal `I would have no hesitation in strongly recommending this book to advanced undergraduate and graduate students and scholars who would like an overview of post Keynesian economic theory. . . Its authoritative and comprehensive account of post Keynesian economics and its admirable synthesis of a large body of diverse work into a coherent and compelling whole.' -- Amitava Krishna Dutt, Review of Social Economy 'Lavoie succeeds in providing a comprehensive overview of post Keynesian economics, which shows that there is no need to restrict economics exclusively to the neoclassical paradigm.' -- Werner Meissner, Kyklos `. . . this book provides a worthwhile introduction to a literature that constructively challenges the orthodoxy.' -- Brenda l. Spotton, Canadian Journal of Economics `Lavoie's methodological analysis is praiseworthy. . . Lavoie made an important contribution to the construction of a consistent alternative to neoclassical economics. . .' -- Gilberto Tadeu Lima, RRPE