• Cambridge Society For Economic Pluralism

An Introduction to Post-Keynesian Economics for the Post-Covid Era

Leading Post-Keynesian economists examine economic growth, green transitions , money and liquidity, and economic development.

About this event This panel - featuring Professors Marc Lavoie, Jan Kregel, Maria Nikolaidi, and Florencia Medici - will be an introduction to post-Keynesian theory and its applications to global issues regarding sustainability, stagnation, financial crises, and development. To quote from the post-Keynesian Economics Society:

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. PKE rejects the methodological individualism that underlies much of mainstream economics. Instead, PKE argues that fundamental uncertainty and social conflict require an analysis of human behaviour based on social conventions and heuristics embedded in specific institutional contexts. Social interactions give rise to distinct systemic properties at the macroeconomic level.

Professor Marc Lavoie, author of many important works including the seminal textbook Post-Keynesian Economics: New Foundations, will headline the panel, outlining the key tenets of post-Keynesian analysis and its relevance to realistic economic analysis.

Professor Jan Kregel, director of research at the Levy Economic Institute and authors of pivotal works including The Theory of Economic Growth (1972) and Theory of Capital (1976), will be speaking on 'Money and Liquidity', interrogating the importance of monetary flows in national and global financial systems.

Professor Maria Nikolaidi, Associate Professor in Economics at the University of Greenwich, will be synthesising post-Keynesian and ecological economics, highlighting the limitations of neoclassical theory in assessing fiscal policy and ecological sustainability (based on her working paper with Professor Yannis Dafermos)

Finally, Dr Florencia Medici of the National University of Moreno will be discussing how post-Keynesian economics sheds light on the development of Latin America and its principal problems

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