Post-Keynesian Economics
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Post-Keynesian Economics

New Foundations

Marc Lavoie

The book is a considerably extended and fully revamped edition of the highly successful and frequently cited Foundations of Post-Keynesian Economic Analysis, published in 1992. It provides an exhaustive account of post-Keynesian economics and of the developments that have occurred in post-Keynesian theory and in the world economy over the last twenty years. Topics covered include open-economy issues, the methodological foundations of heterodox economics, consumer theory, firms and pricing, money and credit, effective demand and employment, inflation theory, and growth theories.
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Subject index

Marc Lavoie


accumulation and adjustment via monetary policy 396–9 and animal spirits 349, 357–8, 361, 371, 394–6, 404, 452 and business debt 437–41 desired rate of 350–51 model with Hicksian stock–flow investment 399 model of Kaleckian 359–64 model of neo-Keynesian 347–52 model of post-Kaleckian 370–73 model with stabilizing Marxian labour market 399–401 see also Harrodian stability; Keynesian stability aggregate demand–aggregate supply 300–303 asset-based economies neo-chartalist vs post-chartalist views 209–13 vs overdraft economies 205 auto-economies see asset-based economies Banking School 174, 184, 194, 228, 462 banks and capital adequacy ratios 198–200 and certificates of deposits and securitization 201–3 and international transactions 458–61 liquidity preference of 245–52 profits of 196–8 repos 204–5 behavioural economics new 5, 8, 10, 15–16, 82, 85–6, 90, 104 old 8, 13, 16, 41, 73, 82–3, 86–8, 124, 134, 305, 402–3 cambist view 482–5, 487, 490 Cambridge capital controversies 23, 47, 50, 52–3, 257, 456 equation 140, 296, 348, 356 price mechanism 391–3, 395 capacity constant rates of utilization in model of accumulation 352–5 convergence towards normal rate 387–400 engineer rated 148–9, 176 endogenous normal rate 402–5 planned excess 150–54 profit maximizing rate of 389 theoretical 148, 153 capital controls 505–7 central bank in an asset-based economy 209–13 ceiling system 224–5 corridor system 219–21 and credit easing 226 defensive role 216–17 floor system...

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