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An Introduction to Post Keynesian Economics: Involuntary Unemployment With Perfectly Flexible Wages and Prices

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Post Keynesian economics is based on the economics of John Maynard Keynes. Unlike Keynesianism, it does not rely on rigidities or imperfections to explain less-than-full employment, a condition that they argue is the rule rather than the exception. One key implication of this is that Post Keynesians do not view economics as being the science of scarcity. In the real world, our most difficult challenge is related to the pervasive and chronic abundance of one particular resource: labor. The consequences of this abundance are significant, widespread, and avoidable. This article explains how they come to such a conclusion.
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... 4). Aquí cabe destacar el énfasis dado por las corrientes poskeynesianas a la discusión monetaria (Harvey, 2016), junto con algunos elementos del enfoque del dinero endógeno que han sido adoptados (implícitamente) por las corrientes ortodoxas contemporáneas (v. gr., Romer, 2000). ...
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... Second, their preferred modeling method is the general 4 impossible to evaluate threats to parts of the economy that are omitted from the model, this paper rejects the mainstream approach in favor of the Post Keynesian one. The latter maintains that finance, debt, and banking are indispensable parts of any explanation of the macroeconomy (see Harvey 2016 for a more extensive treatment). ...
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