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Full Description

This is the first of two volumes celebrating Keynes's contribution to economics, and the development of post Keynesian economics in recent years. It reinstates the importance of Keynesian economics and its revival since the end of the 1980s, and the book's authoritative chapters are presented by an outstanding group of international contributors.Divided into two parts, this volume concentrates on microeconomics and econometrics. In the first section on microeconomics, the contributors address issues such as the division and co-ordination of knowledge, and innovation, equilibrium and welfare, as well as transactions costs, imperfect competition, trust, and the theory of the firm. The second part focuses on econometrics within a post Keynesian framework and addresses issues such as realism, the use of empirical evidence, and the case of conflict in wage and unemployment determination.

This book will be welcomed by post Keynesian economists, microeconomists and those interested in the development of econometrics.

Contents

Contents

Preface
G.C. Harcourt

Introduction
Sheila C. Dow and John Hillard

1. The division and coordination of knowledge
Brian J. Loasby

2. Innovation, equilibrium and welfare
G.B. Richardson

3. On the issue of realism in the economics of institutions and organizations: themes from Coase and Richardson
Uskali Mäki

4. Transactions costs and uncertainty: theory and practice
Peter J. Buckley and Malcolm Chapman

5. A Post Keynesian approach to the theory of the firm
Stephen P. Dunn

6. Trust, time and uncertainty
Vicky Allsopp

7. Keynes's views on information
Sohei Mizuhara

8. The role of econometrics in a radical methodology
Bill Gerrard

9. Post-orthodox econometrics
Paul Ormerod

10. Realism, econometrics and Post Keynesian economics
Paul Downward

11. Keynes, Post Keynesians and methodology
Sheila C. Dow

12. How do economic theorists use empirical evidence? Two case studies
Roger E. Backhouse

13. Conflict in wage and unemployment determination in the UK
Philip Arestis and Iris Biefang-Frisancho Mariscal

Bibliography

Index