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Post-Keynesian Thought

In: 50 Years a Keynesian and Other Essays

Author

Listed:
  • G. C. Harcourt

    (Jesus College
    University of Adelaide)

Abstract

The approaches to political economy which reflect post-Keynesian thought are there partly for historical reasons and, partly, because of logical associations. Post-Keynesianism is an extremely broad church. The overlaps at each end of a long spectrum of views are marginal, reflecting little more than a shared hostility towards mainstream neoclassical economics and methodology, IS/LM Keynesianism and the ‘fix-price’ Keynesianism of the ‘New Keynesians’ and certain French economists. Some post-Keynesians are working actively towards a synthesis of the principal strands. Others regard the search for a synthesis, for a general all-embracing structure, as a profound mistake; to quote Joan Robinson, a founding mother, a misguided attempt to replace ‘one box of tricks’ by another. Post-Keynesianism should be a situation-and-issue-specific method of doing political economy, a ‘horses for courses’ approach, itself an all-embracing structure at the methodological level.

Suggested Citation

  • G. C. Harcourt, 2001. "Post-Keynesian Thought," Palgrave Macmillan Books, in: 50 Years a Keynesian and Other Essays, chapter 19, pages 263-285, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52331-9_19
    DOI: 10.1057/9780230523319_19
    as

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