This cutting-edge Handbook provides a comprehensive overview of established and cutting-edge contributions to political economic thought. Featuring chapters by both leading and emerging scholars, the book showcases the rich array of theoretical approaches to the study of political economy, and the vibrant and productive debates amongst modern researchers within the field.
In The Political Economy and Feasibility of Bitcoin and Cryptocurrencies Spencer J. Pack brings his authority as a scholar and entrepreneur advisor to this study of bitcoin and cryptocurrencies from the perspective of the history of economic thought. Major theorists analyzed in depth include Aristotle, Smith,Law, Marx, Keynes, Rothbard and Hayek, and the book draws extensively upon the ideas of Schumpeter, Galbraith and Sraffa. The book argues for reconceptualization of the basic microeconomic categories into rental, sale, and financial asset prices along with a reconsideration of Keynes’ general theory to his special theory and Rothbard’s relationship to Rousseau. The author posits that intense theoretical and practical struggles will continue over who should control the quantity of money, the cause of the capitalist economy’s instability, and who or what is more dangerous- concentrated centers of private wealth and private enterprises or the contemporary state.
Students in economics are ever more distressed by the disconnect between mainstream
economics and the real world. This book shows how post-Keynesian economics
constitutes a coherent heterodox alternative, based on realistic assumptions and the
integration of the financial and real sides of the economy, with an emphasis on the
many paradoxes that arise in a truly macroeconomic analysis. The book is a
considerably revised and updated version of the widely used and frequently cited
2014 edition, which won the EAEPE Myrdal Prize (now the Joan Robinson Prize).
This Modern Guide advances Post-Keynesian Institutional economics, an integrative tradition—inspired by keen economic observers such as John Kenneth Galbraith, Joan Robinson, and Hyman Minsky—that bridges Institutional and Post Keynesian economics. The tradition proved its worth by addressing the global financial crisis of 2007–2009, as well as by analyzing long-term trends accompanying the evolution of investor-driven (“money manager”) capitalism, including financialization, spreading worker insecurity, and rising inequality. The book begins with the history and contours of Post-Keynesian Institutionalism, and then breaks new ground, extending recent analyses of contemporary economic problems, sharpening concepts and methods, sketching new theories, and synthesizing ideas across research traditions.
Piero Ferri expertly broadens the analysis of the canonical growth cycle approach by presenting a Minsky–Harrod model, examining how the relationship between income distribution, growth and unemployment becomes increasingly complex. Exploring this new technique to generate a process of growth, based not only on history but disequilibrium, he investigates the current income distribution debate further and the challenges it faces.
Post-Keynesian Growth Theory is a collection of 18 articles by Marc Lavoie, published between 1995 and 2020, with an extended foreword by Eckhard Hein. Marc Lavoie’s introduction recalls how he became attracted to the post-Keynesian theory of growth more than 45 years ago and explains how and why this book came about.
This insightful book sheds light on three competing ideological windows on the world: conservatism, liberalism and socialism. David Reisman explores the importance of these perspectives not only to generating public policy, but also in our capacity to explain the very nature of reality.
The twenty-first century has seen major challenges to freedom and democracy. Authoritarianism is on the rise and democracy is in retreat. Some promote individualism and markets as the solution to almost every problem. On the other side there are those who champion collectivism and full public ownership. Neither side is convincing. Unrestrained capitalism has exacerbated inequality. Socialism in practice has ended democracy. Effective defenders of liberty and human flourishing must find a different course. This book argues for a pragmatic, social democratic liberalism that avoids unrealistic extremes and tackles major problems such as inequality and climate change.
2019 marked the 40th anniversary of the publication of Anthony P. Thirlwall’s classic paper that laid out what became known as Thirlwall’s law. This article introduced and provided empirical evidence in favor of the proposition that the long-run rate of growth of an economy compatible with balance-of-payments equilibrium can be approximated by the simple rule of the ratio of the growth of exports to the income elasticity of demand for imports.
Examining the fundamental thinking underpinning the foundation for economic studies of happiness, this book explores the theories of key economists and philosophers from the Greek philosophers to more modern schools of thought. Lall Ramrattan and Michael Szenberg explore the general measures of happiness, utility as a method, metrical measures of happiness, happiness in literature and the scope of happiness in this concise book.