Money, Method and Contemporary Post-Keynesian Economics
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Money, Method and Contemporary Post-Keynesian Economics

Edited by Sheila Dow, Jesper Jespersen and Geoff Tily

This volume concentrates on contemporary Post-Keynesian contributions in money, method and economic policy. Post-Keynesian economics shares with Keynes the ambition of understanding the economy as a whole and as an integrated part of society. The book begins by analysing money, banks and finance as dynamic phenomena, followed by chapters focusing on methodological themes such as uncertainty, longer-term issues, sustainability and other non-monetary economic activities.
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Chapter 12: The economics of enough: a future for capitalism or a new way of living?

Victoria Chick and Alan Freeman

Abstract

This chapter explores the evidence for, and the consequences of, Keynes’s evaluation of the long-term prospects for capitalism. It is 65 years since the Second World War cleared the way for the post-war ‘Golden Age’ of growth and accumulation. The advanced economies now, however, face a marked and persistent slowdown (Blanchard 2015). There is no shortage of suggested causes, ranging from inequality (Piketty 2014), to financialisation (Stockhammer 2004), low real interest rates and low inflation (Summers 2014) and structural budget deficits (Jespersen 2016). Priority, or even causal precedence, has yet to be assigned to any one of these diverse but interlinked factors.

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