The Post-Keynesian approach to economics

the long version

This major new book provides a coherent critique of the neoclassical synthesis together with a comprehensive and systematic introduction to the post-Keynesian alternatives. Professor Arestis demonstrates that post-Keynesian economics offers a challenge to conventional neoclassical economics. He argues that although post-Keynesianism is not problem-free, it nevertheless offers a more satisfactory explanation of 'real' phenomena. The Post-Keynesian Approach to Economics reveals the microfoundations of post-Keynesian economics and describes how the theoretical propositions link up with the macrofoundations. In doing so, it demonstrates that money pricing, capital accumulation, growth and distribution are linked closely together. fife economic policy implications are discussed extensively.