Download or read book Keynes Against Capitalism written by James Crotty and published by Routledge. This book was released on 2019-04-29 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: Keynes is one of the most important and influential economists who ever lived. It is almost universally believed that Keynes wrote his magnum opus, The General Theory of Employment, Interest and Money, to save capitalism from the socialist, communist, and fascist forces that were rising up during the Great Depression era. This book argues that this was not the case with respect to socialism. Tracing the evolution of Keynes’s views on policy from WWI until his death in 1946, Crotty argues that virtually all post-WWII "Keynesian" economists misinterpreted crucial parts of Keynes’s economic theory, misunderstood many of his policy views, and failed to realize that his overarching political objective was not to save British capitalism, but rather to replace it with Liberal Socialism. This book shows how Keynes’s Liberal Socialism began to take shape in his mind in the mid-1920s, evolved into a more concrete institutional form over the next decade or so, and was laid out in detail in his work on postwar economic planning at Britain’s Treasury during WWII. Finally, it explains how The General Theory provided the rigorous economic theoretical foundation needed to support his case against capitalism in support of Liberal Socialism. Offering an original and highly informative exposition of Keynes’s work, this book should be of great interest to teachers and students of economics. It should also appeal to a general audience interested in the role the most important economist of the 20th century played in developing the case against capitalism and in support of Liberal Socialism. Keynes Against Capitalism is especially relevant in the context of today’s global economic and political crises.

Download or read book Socialism Capitalism and Alternatives written by Peter J. S. Duncan and published by UCL Press. This book was released on 2019-10-14 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1989 the Berlin Wall came down. Two years later the Soviet Union disintegrated. The collapse of communism in Eastern Europe and the Soviet Union discredited the idea of socialism for generations to come. It was seen as representing the final and irreversible victory of capitalism. This triumphal dominance was barely challenged until the 2008 financial crisis threw the Western world into a state of turmoil. Through analysis of post-socialist Russia and Central and Eastern Europe, as well as of the United Kingdom, China and the United States, Socialism, Capitalism and Alternatives confronts the difficulty we face in articulating alternatives to capitalism, socialism and threatening populist regimes. Beginning with accounts of the impact of capitalism on countries left behind by the planned economies, the volume moves on to consider how China has become a beacon of dynamic economic growth, aggressively expanding its global influence. The final section of the volume poses alternatives to the ideological dominance of neoliberalism in the West. Since the 2008 financial crisis, demands for social change have erupted across the world. Exposing the failure of neoliberalism in the United Kingdom and examining recent social movements in Europe and the United States, the closing chapters identify how elements of past ideas are re-emerging, among them Keynesianism and radical socialism. As those chapters indicate, these ideas might well have potential to mobilise support and challenge the dominance of neoliberalism.

Download or read book Capitalist Revolutionary written by Roger E. Backhouse and published by Harvard University Press. This book was released on 2011-11-15 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Great Recession of 2008 restored John Maynard Keynes to prominence. After decades when the Keynesian revolution seemed to have been forgotten, the great British theorist was suddenly everywhere. The New York Times asked, “What would Keynes have done?” The Financial Times wrote of “the undeniable shift to Keynes.” Le Monde pronounced the economic collapse Keynes’s “revenge.” Two years later, following bank bailouts and Tea Party fundamentalism, Keynesian principles once again seemed misguided or irrelevant to a public focused on ballooning budget deficits. In this readable account, Backhouse and Bateman elaborate the misinformation and caricature that have led to Keynes’s repeated resurrection and interment since his death in 1946. Keynes’s engagement with social and moral philosophy and his membership in the Bloomsbury Group of artists and writers helped to shape his manner of theorizing. Though trained as a mathematician, he designed models based on how specific kinds of people (such as investors and consumers) actually behave—an approach that runs counter to the idealized agents favored by economists at the end of the century. Keynes wanted to create a revolution in the way the world thought about economic problems, but he was more open-minded about capitalism than is commonly believed. He saw capitalism as essential to a society’s well-being but also morally flawed, and he sought a corrective for its main defect: the failure to stabilize investment. Keynes’s nuanced views, the authors suggest, offer an alternative to the polarized rhetoric often evoked by the word “capitalism” in today’s political debates.

Download or read book Capitalism Socialism and Post Keynesianism written by Geoffrey Colin Harcourt and published by Edward Elgar Publishing. This book was released on 1995 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work begins with three essays on policy issues: the case for a middle way between command economies and free market economies; the broad principles of fiscal policy for Australia in the 1990s; and an integrated set of modest proposals to get the world economy on the path to prosperity. All approaches used in these essays are associated with the broad church of post-Keynesianism and the belief that economics should produce a more just and equitable society. Later essays analyze theoretical topics in an historical context. The remaining papers are a selection of intellectual biographies, and general esays which range from the author's views on the relationship between mathematics and economics to what Adam Smith really said.

Download or read book A History of Post Keynesian Economics Since 1936 written by J. E. King and published by Edward Elgar Publishing. This book was released on 2002-04-26 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text provides a history of the post Keynesian approach to economics since 1936. The author locates the origins of these economics in the conflicting interpretations of Keynes' General Theory and in the complementary work of Michael Kalecki.

Download or read book Keynes and Marx written by Bill Dunn and published by Manchester University Press. This book was released on 2021-07-06 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: Keynes was an elitist and pro-capitalist economist, whom the left should embrace with caution. But his analysis provides a concreteness missing from Marx and engages with critical issues of the modern world that Marx could not have foreseen. This book argues that a critical Marxist engagement can simultaneously increase the power of Keynes’s insight and enrich Marxism. To understand Keynes, whose work is liberally invoked but seldom read, Dunn explores him in the context of the extraordinary times in which he lived, his philosophy, and his politics. By offering a detailed overview of Keynes’s critique of mainstream economics and General Theory, Dunn argues that Keynes provides an enduringly valuable critique of orthodoxy. The book develops a Marxist appropriation of Keynes’s insights, arguing that a Marxist analysis of unemployment, capital and the role of the state can be enriched through such a critical engagement. The point is to change the world, not just to understand it. Thus the book considers the prospects of returning to Keynes, critically reviewing the practices that have come to be known as ‘Keynesianism’ and the limits of the theoretical traditions that have made claim to his legacy.

Download or read book The Structure of Post Keynesian Economics written by G. C. Harcourt and published by Cambridge University Press. This book was released on 2006-10-12 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a major contribution to post-Keynesian thought. With studies of the key pioneers - Keynes himself, Kalecki, Kahn, Goodwin, Kaldor, Joan Robinson, Sraffa and Pasinetti - G. C. Harcourt emphasizes their positive contributions to theories of distribution, pricing, accumulation, endogenous money and growth. The propositions of earlier chapters are brought together in an integrated narrative and interpretation of the major episodes in advanced capitalist economics in the post-war period, leading to a discussion of the relevance of post-Keynesian ideas to both our understanding of economics and to policy-making. The appendices include biographical sketches of the pioneers and analysis of the conceptual core of their discontent with orthodox theories. Drawing on the author's experience of teaching and researching over fifty years, this book will appeal to undergraduate and graduate students interested in alternative approaches to theoretical, applied and policy issues in economics, as well as to teachers and researchers in economics.

Download or read book General Theory Of Employment Interest And Money written by John Maynard Keynes and published by Atlantic Publishers & Dist. This book was released on 2016-04 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning

Download or read book Contending Economic Theories written by Richard D. Wolff and published by MIT Press. This book was released on 2012-09-07 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: A systematic comparison of the 3 major economic theories—neoclassical, Keynesian, and Marxian—showing how they differ and why these differences matter in shaping economic theory and practice. Contending Economic Theories offers a unique comparative treatment of the three main theories in economics as it is taught today: neoclassical, Keynesian, and Marxian. Each is developed and discussed in its own chapter, yet also differentiated from and compared to the other two theories. The authors identify each theory's starting point, its goals and foci, and its internal logic. They connect their comparative theory analysis to the larger policy issues that divide the rival camps of theorists around such central issues as the role government should play in the economy and the class structure of production, stressing the different analytical, policy, and social decisions that flow from each theory's conceptualization of economics. Building on their earlier book Economics: Marxian versus Neoclassical, the authors offer an expanded treatment of Keynesian economics and a comprehensive introduction to Marxian economics, including its class analysis of society. Beyond providing a systematic explanation of the logic and structure of standard neoclassical theory, they analyze recent extensions and developments of that theory around such topics as market imperfections, information economics, new theories of equilibrium, and behavioral economics, considering whether these advances represent new paradigms or merely adjustments to the standard theory. They also explain why economic reasoning has varied among these three approaches throughout the twentieth century, and why this variation continues today—as neoclassical views give way to new Keynesian approaches in the wake of the economic collapse of 2008.

Download or read book Keynes Hayek The Clash that Defined Modern Economics written by Nicholas Wapshott and published by W. W. Norton & Company. This book was released on 2011-10-11 with total page 423 pages. Available in PDF, EPUB and Kindle. Book excerpt: “I defy anybody—Keynesian, Hayekian, or uncommitted—to read [Wapshott’s] work and not learn something new.”—John Cassidy, The New Yorker As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore balance to economies gone awry. John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Freidrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision. From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.

Download or read book Post Keynesian Econometrics Microeconomics and the Theory of the Firm written by Sheila C. Dow and published by Edward Elgar Publishing. This book was released on 2002 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the first conference (1993) focused on methodological issues, the 13 papers of the second are more concerned with developments in theory, empirical work, and policy questions as they seek to carry on the insights of economist John Maynard Keynes into and through the 1990s. Among the themes are the relationship between microeconomic and macroeconomic levels, uncertainty and its implications for individual behavior as it underpins macroeconomic behavior, and applying post- Keynesian theory to policy questions particularly in the international arena. The proceedings of the first conference were published under a separate title, and this series begins Volume One with the second conference. Annotation copyrighted by Book News, Inc., Portland, OR

Download or read book The Economic Ideas of Marx s Capital written by Ludo Cuyvers and published by Taylor & Francis. This book was released on 2016-09-13 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nearly two hundred years have passed since the birth of Karl Marx and continuing to this day the influence of his economic views, insights and theories can still be felt. However, since the publication of Das Kapital, the scientific community has not been sitting idle – it is time to evaluate Marx as an economist and explore what he can bring to modern economic thinking, particularly post-Keynesian economics. Starting with Marx’s schemes of reproduction, which, it is shown, are the basis of the linear model of production as used since the 1960s by Piero Sraffa, Michio Morishima and others, the book reviews and assesses Marx’s major economic theses. These include: the labour theory of value; accumulation and technical change and its impact on labour; the concept of unproductive labour; the tendential falling rate of profits; the evolution and determinants of the share of wages in national income; as well as short-run and long-run economic dynamics. The Economic Ideas of Marx's Capital updates the theses of the labour theory of value and the conditions for balanced growth using the recent scholarly literature, and also further develops issues related to Marx’s concept of productive labour. Moreover, the book analyses the intellectual relationship of Marx’s economic theory with post-Keynesian neo-Marxism, particularly in the writings of Michal Kalecki, Joan Robinson and others. By doing so, the book shows the need and possibilities of integrating major insights of Marxist and post-Keynesian theory. This volume will be of interest to those who wish to explore Marx’s economic theories through a non-ideological approach, as well as students of Marxist economics, post-Keynesian economics and the history of economic thought.

Download or read book Capitalism written by Anwar Shaikh and published by Oxford University Press. This book was released on 2016-01-15 with total page 1019 pages. Available in PDF, EPUB and Kindle. Book excerpt: Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains as their point of departure and base of comparison. There is no imperfection without perfection. In Capitalism, Anwar Shaikh takes a different approach. He demonstrates that most of the central propositions of economic analysis can be derived without any reference to standard devices such as hyperrationality, optimization, perfect competition, perfect information, representative agents, or so-called rational expectations. This perspective allows him to look afresh at virtually all the elements of economic analysis: the laws of demand and supply, the determination of wage and profit rates, technological change, relative prices, interest rates, bond and equity prices, exchange rates, terms and balance of trade, growth, unemployment, inflation, and long booms culminating in recurrent general crises. In every case, Shaikh's innovative theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post-Keynesian approaches to the same issues. Shaikh's object of analysis is the economics of capitalism, and he explores the subject in this expansive light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text.

Download or read book The Price of Peace written by Zachary D. Carter and published by Random House Trade Paperbacks. This book was released on 2021-04-20 with total page 666 pages. Available in PDF, EPUB and Kindle. Book excerpt: NEW YORK TIMES BESTSELLER • An “outstanding new intellectual biography of John Maynard Keynes [that moves] swiftly along currents of lucidity and wit” (The New York Times), illuminating the world of the influential economist and his transformative ideas “A timely, lucid and compelling portrait of a man whose enduring relevance is always heightened when crisis strikes.”—The Wall Street Journal WINNER: The Arthur Ross Book Award Gold Medal • The Hillman Prize for Book Journalism FINALIST: The National Book Critics Circle Award • The Sabew Best in Business Book Award NAMED ONE OF THE TEN BEST BOOKS OF THE YEAR BY PUBLISHERS WEEKLY AND ONE OF THE BEST BOOKS OF THE YEAR BY Jennifer Szalai, The New York Times • The Economist • Bloomberg • Mother Jones At the dawn of World War I, a young academic named John Maynard Keynes hastily folded his long legs into the sidecar of his brother-in-law’s motorcycle for an odd, frantic journey that would change the course of history. Swept away from his placid home at Cambridge University by the currents of the conflict, Keynes found himself thrust into the halls of European treasuries to arrange emergency loans and packed off to America to negotiate the terms of economic combat. The terror and anxiety unleashed by the war would transform him from a comfortable obscurity into the most influential and controversial intellectual of his day—a man whose ideas still retain the power to shock in our own time. Keynes was not only an economist but the preeminent anti-authoritarian thinker of the twentieth century, one who devoted his life to the belief that art and ideas could conquer war and deprivation. As a moral philosopher, political theorist, and statesman, Keynes led an extraordinary life that took him from intimate turn-of-the-century parties in London’s riotous Bloomsbury art scene to the fevered negotiations in Paris that shaped the Treaty of Versailles, from stock market crashes on two continents to diplomatic breakthroughs in the mountains of New Hampshire to wartime ballet openings at London’s extravagant Covent Garden. Along the way, Keynes reinvented Enlightenment liberalism to meet the harrowing crises of the twentieth century. In the United States, his ideas became the foundation of a burgeoning economics profession, but they also became a flash point in the broader political struggle of the Cold War, as Keynesian acolytes faced off against conservatives in an intellectual battle for the future of the country—and the world. Though many Keynesian ideas survived the struggle, much of the project to which he devoted his life was lost. In this riveting biography, veteran journalist Zachary D. Carter unearths the lost legacy of one of history’s most fascinating minds. The Price of Peace revives a forgotten set of ideas about democracy, money, and the good life with transformative implications for today’s debates over inequality and the power politics that shape the global order. LONGLISTED FOR THE CUNDILL HISTORY PRIZE

Download or read book The Elgar Companion to Post Keynesian Economics written by J. E. King and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 641 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Elgar Companion to Post Keynesian Economics is a comprehensive guide to economic analyses in the tradition of Keynes and the so-called Cambridge (UK) school of economics. The coverage of themes and different theoretical orientations within Post Keynesianism is remarkable and the quality of the various entries is impressive. John Kings invisible hand is responsible for a minimum of overlaps and an optimum in quality and comprehensibility. This book has already proved to be of interest to a wide range of economists and can be expected to continue to do so for a long time to come. Heinz D. Kurz, University of Graz, Austria This thoroughly revised and updated second edition provides a comprehensive guide to Post Keynesian methodology, theory and policy prescriptions. The Companion reflects the challenges posed by the global financial crisis that began in 2008 and by the consolidation of the New Neoclassical Synthesis in macroeconomic theory. There are 41 entirely new entries, marking the emergence of a new generation of Post Keynesian scholars. The central issues that were dealt with in the first edition remain at the core of the book, but much more attention is paid in this second edition to financial markets, to Post Keynesian economics outside its traditional Anglo-American heartland and to gender issues and environmental policy. Including major theoretical, methodological and policy issues in Post Keynesian economics, this enriching Companion will strongly appeal to postgraduate and advanced undergraduate students in economics as well as related social science disciplines including international political economy, international relations, politics, public policy and sociology.

Download or read book Post Keynesian Monetary Theory written by Marc Lavoie and published by Edward Elgar Publishing. This book was released on 2020-09-25 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: Post-Keynesian Monetary Theory recaps the views of Marc Lavoie on monetary theory, seen from a post-Keynesian perspective over a 35-year period. The book contains a collection of twenty previously published papers, as well as an introduction which explains how these papers came about and how they were received. All of the selected articles avoid mathematical formalism.

Download or read book People Power and Profits Progressive Capitalism for an Age of Discontent written by Joseph E. Stiglitz and published by W. W. Norton & Company. This book was released on 2019-04-23 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Urgent work, by the foremost champion of ‘progressive capitalism.’ ” —The New Yorker An authoritative account of the dangers of unfettered markets and monied politics, People, Power, and Profits shows us an America in crisis. The American people, however, are far from powerless, and Joseph Stiglitz provides an alternative path forward through his vision of progressive capitalism, with a comprehensive set of political and economic changes.