Edited by L. Randall Wray
This volume presents a selection of papers presented at the Eighth International Post Keynesian Workshop, organized by Paul Davidson, Jan Kregel, Mathew Forstater and L. Randall Wray, and held at the University of Missouri–Kansas City (UMKC) in June 2004. The workshop was jointly sponsored by the Journal of Post Keynesian Economics, UMKC’s Center for Full Employment and Price Stability, and the Economics Department of UMKC. The workshop carried on the long tradition begun in the 1980s by Jan Kregel, Piero Garegnani and Sergio Paranello with workshops originally held in Trieste, Italy, continued by Paul Davidson at the University of Tennessee–Knoxville, and currently held at UMKC biannually. In its current form, the workshop begins with a week-long Post Keynesian Summer School, staffed by approximately 20 prominent Post Keynesian faculty from the US and abroad, and is attended by more than 70 graduate students and post-graduates from all over the world. The workshop ends with a four-day conference that brings together approximately 120 international heterodox scholars from universities, governments and private organizations. The papers included in this volume were carefully selected to present an overview of the latest research on monetary theory and policy, financial markets and financial instability coming out of the Post Keynesian school of thought. Obviously, these represent only a small fraction of the interesting papers that were presented at the 23 panels organized for the conference. Rather than trying to provide a sampling of the range of topics covered, we chose to include papers related to...