Post-Keynesian Economics

This comprehensive collection brings together sixteen influential papers by Marc Lavoie that showcase the depth and breadth of post-Keynesian economic thought. Organized into four thematic sections, this volume offers critical insights into theoretical foundations, pricing mechanisms, monetary systems, and growth models that challenge mainstream economic paradigms.

Beginning with foundational explorations of Post-Keynesianism and its relationship with Neo-Ricardianism, the collection traces the evolution of this heterodox school of thought and examines its development in different contexts, including its remarkable journey in Canada. The second section delves into the nuanced world of post-Keynesian pricing theory, examining mark-up pricing versus normal cost approaches and engaging with the influential work of Frederic Lee. The monetary section-the most extensive in the collection-addresses critical issues from endogenous credit-money theory to modern monetary theory (MMT), offering penetrating analyses of reserve systems, sovereign currencies, and inflation dynamics through a post-Keynesian lens. The final section revisits the author's seminal contributions on growth and distribution models, exploring the reconciliation of Kaleckian and Sraffian approaches and examining innovative concepts like cadrisme and overhead labor costs.

This essential volume not only preserves important theoretical contributions but also demonstrates the continuing relevance of post-Keynesian economics in addressing contemporary economic challenges. Scholars, students, and policymakers will find this collection an invaluable resource for understanding alternative approaches to economic theory and policy.

The chapters in this volume were originally published in Review of Political Economy and are now presented with a new Introduction and Foreword.