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Part one of term paper
Post-Keynesian economic was formed and developed by economists such as Joan Robinson and Nicholas Kaldor who believed Keynesian economics was based on disequilibrium and uncertainty, and that challenges the general equilibrium assumptions of neo-classical theory. The main aim of post-Keynesian economics is to complete the unfinished Keynesian ...
Part two of term paper
... also revived the classical link between macroeconomic theories of income distribution and economic growth using Keynesian analysis.
They emphasised that the role of financial markets and rejected the quantity theory of money, preferring effective demand as the major influence on income distribution.1
FOUNDATION@OF@POST|KEYNESIAN@ECONOMIC
MAJOR DEVELOPMENTS
In 1930s, Harrodfs work on growth dynamics was the first development of post-Keynesian economic which distinct from Keynesian analys ...
Word count: 1329 | Approximate pages: 5
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