This is a major contribution to post-Keynesian thought. With studies of the key pioneers - Keynes himself, Kalecki, Kahn, Goodwin, Kaldor, Joan Robinson, Sraffa and Pasinetti - G. C. Harcourt emphasizes their positive contributions to theories of distribution, pricing, accumulation, endogenous money and growth. The propositions of earlier chapters are brought together in an integrated narrative and interpretation of the major episodes in advanced capitalist economics in the post-war period, leading to a discussion of the relevance of post-Keynesian ideas to both our understanding of economics and to policy-making. The appendices include biographical sketches of the pioneers and analysis of the conceptual core of their discontent with orthodox theories. Drawing on the author's experience of teaching and researching over fifty years, this book will appeal to undergraduate and graduate students interested in alternative approaches to theoretical, applied and policy issues in economics, as well as to teachers and researchers in economics.
• A lively and accessible survey of the work of a distinguished non-mainstream economist • Draws on the personal experiences of the author, who was taught by and then worked with most of the economists discussed • Emphasizes the historical roots of the development of G. C. Harcourt's distinctive approach, as well as the intellectual biographies of the pioneers
Preface; 1. Introduction: why post-Keynesian economics and who were its Cambridge pioneers?; 2. Post-Keynesian macroeconomic theories of distribution; 3. Post-Keynesian theories of the determination of the mark-up; 4. Macroeconomic theories of accumulation; 5. Money and finance: exogenous or endogenous?; 6. The complete model: its role in an explanation of post-war inflationary episodes; 7. Theories of growth: from Adam Smith to 'modern' endogenous growth theory; 8. Applications to policy; Appendices; Index.
Reviews of the hardback: 'Geoff Harcourt's The Structure of Post-Keynesian Economics gives us a unique and irreplaceable perspective on the development and state of post-Keynesian thought. …This is a labor of scholarly love both for the ideas so scrupulously presented and for the fertile minds who contributed to them.' Duncan K. Foley, New School for Social Research
'The book is clearly written in the pleasant style to which Harcourt has accustomed us, and the theoretical discussions are enlivened by many personal recollections. I strongly recommend it to graduate students as well as to scholars who want to become familiar with this unduly neglected stream of thought.' Review of Political Economy