The financial crisis of 2007-08 hit most laymen and economists with surprise. Post-Keynesian Reading List. Post-Keynesian Economics (PKE) is a school of economic thought which builds upon John Maynard Keynes’s and Michal Kalecki’s argument that effective demand is the key determinant of economic performance. Keynesian economics is a very broad umbrella term for economists who make some use of the insights of the great John Maynard Keynes. In the Post-Keynesian Age, we do not mess up the economy with macroeconomic distortion, either of the monetary or fiscal sort. Post-Keynesian Theorists and the Theory of Economic Development What is the contribution of the post-Keynesians to the theory of economic development? This is because a great deal of post-Keynesian economic theorizing Post Keynesian theory rejects the ergodic axiom. There Simply and most straight-forward, it refers to any economic strategies implemented after 1936 when John Keynes published his work 'The General Theory'. Paul Davidson. Post Keynesian economics has many theories but one of the foundations is effective demand, and that it matters in both the long run and the short run. In Post Keynesian theory, however, people recognize that the future is uncertain (nonergodic) and cannot be reliably predicted. Post-Keynesian Economics Marc Lavoie, University of Ottawa Lecture 1: Essentials of heterodox and post-Keynesian economics This will be a discussion about the features that post-Keynesian economics (PKE) shares with the other heterodox schools of thought, the specific contributions of PKE, and the various strands of PKE. Post Keynesians generally disagree with New Keynesianism, which is the clean-scrubbed version of Keynes' ideas taught in most mainstream economics.According to Keynes' biographer Lord Robert Skidelsky, the post-Keynesians have remained closest to the spirit of Keynes' original work. Rejection of Walrasian General Equilibrium Theory: . 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