A Gendered Post Keynesian–Institutional Analysis
Chapter 1: Introduction
OVERVIEW Post Keynesian analyses of monetary production have not given much attention to households as institutions. An underlying reason for this tendency is that gender has not been explicitly considered as an analytical category within this framework. While household and gender analysis should not be conflated, there are points of intersection between the two, and thus ignoring gender as an analytical category inhibits the coherent conceptualization of households, and even more importantly, restricts the explanatory power of the Post Keynesian monetary theory of production. On the other hand, a good deal of the literature in feminist economics1 discusses households in a strictly microeconomic context, and most importantly independently from monetary phenomena. Thus, overall monetary production has been the focus of Post Keynesian economics, and households have been the major focal points for feminist economics. The literature attempting to construct bridges between these two general approaches2 has not yet engaged in theorizing about households within a gendered Post Keynesian theory of monetary production.3 The Post Keynesian apparent disinterest in developing a theoretical account of households to a certain extent may be explained by the emphasis on endogenous money creation and the residual character of households’ savings decisions in this framework. However, downplaying households in the Post Keynesian monetary theory of production is also a manifestation of gender-blind analysis. At the same time, the focus in feminist economics has been on internal household relations, often at the expense of discussing monetary relations within which households are functioning. Thus, the system of monetary...