Introduction to Post Keynesian Economics

This chapter introduces some of the most important debates taking place among Post Keynesian economists. It provides an overview of insights from12 distinguished contributors who discuss profound questions of heterodox economic theory and their important and far-reaching implications for economic policy. The first question to be raised is the relationship between Post Keynesianism and other schools of heterodox economics, including institutionalism, Sraffian economics and the theory of the monetary circuit. Next comes an account of Modern Monetary Theory and its links to Post Keynesian economics, followed by a consideration of issues of gender and race, the challenge posed by climate change and the growth of inequality in the distribution of income and wealth. We conclude that Post Keynesians have indeed made valuable contributions to some of the most important theoretical and policy debates of the 21st century, agreeing on many points but also disagreeing on some important issues.