This work provides a statement of post-Keynesian macroeconomic theory, focusing on the significance of privately created inside debts and income distribution for the determination of economic activity. It highlights the coherence of post-Keynesian macroeconomics, and analyzes its distinctive differences from conventional macroeconomic theory.
| ||||||||||||||||||
Book Description
Product Details
Would you like to update product info or give feedback on images?
|
More About the Author
Discover books, learn about writers, read author blogs, and more.
Customer Reviews
|
Share your thoughts with other customers:
|
||||||||||||||||||||||
|
Most Helpful Customer Reviews
3 of 6 people found the following review helpful:
1.0 out of 5 stars
Just a rewrite of Paul Davidson's interpretation based on D.Robertson's interpretation,
By Michael Emmett Brady "mandmbrady" (Bellflower, California ,United States) - See all my reviews (VINE VOICE) (REAL NAME)
This review is from: Post Keynesian Economics: Debt, Distribution and the Macroeconomy (Hardcover)
The potential reader of this book should simply save his money because Palley bases his anaysis on the massive misinterpretations made by Paul Davidson,who based his interpretation on S.Weintraub's interpretation of Dennis Robertson,a self admitted mathematical illiterate,who claimed that Keynes's theory had to be contained in Keynes's discussions on pp.24-30 of the GT,although Keynes himself told Robertson quite bluntly that his theory was not presented technically in chapter 3 of the GT.Palley gives the standard claim that Keynes's theory of effective demand is in chapter 3 of the GT,but that,since Keynes gave no mathematically correct foundation for his theory of effective demand,one has to read between the lines to figure out what Keynes must have really(really) meant if he was rational.P immediately slides down the slippery slope created by Robertson in articles published in the Economic Journal in England in the period 1954-1956 with the help of an error filled mathematical appendix provided by Harry Johnson.P misdefines Z as equaling pO,where p is the price level and O is real output.This is mathematically incorrect since integration of Keynes's footnote on pp.55-56 of the GT and of the derivatives given by Keynes on pp.283-285 prove mathematically that Z= wN+P,where w is the money wage,N is the amount of aggregate employment,and P is expected economic profit.All of Palley's results suffer from this mathematical error on his part,which was passed down to him by P.Davidson.
Share your thoughts with other customers: Create your own review
|
|
Tag this product(What's this?)Think of a tag as a keyword or label you consider is strongly related to this product.
Tags will help all customers organize and find favorite items. |
Sell a Digital Version of This Book in the Kindle Store
If you are a publisher or author and hold the digital rights to a book, you can sell a digital version of it in our Kindle Store.
Learn more
Customer Discussions
|
This product's forum
Search Customer Discussions
|
![[Start the discussion]](http://g-ecx.images-amazon.com/images/G/01/x-locale/communities/discussion_boards/start-new-discussion-sec._V192250339_.gif){kind=small}
