Category: Post-Keynesian economists

Some, particularly Post-Keynesian economists have suggested ensuring full employment via a job guarantee program, where those who are unable to find work in the private sector are employed by the government, the stock of thus employed public sector workers fulfilling the same function as the unemployed do in controlling inflation, without the human costs of unemployment.

Category: Post-Keynesian economists

The mainstream position is attacked from both sides – advocates of sound finance argue that deficit spending is always bad policy, while some Post-Keynesian economists, particularly Chartalists, argue that deficit spending is necessary, and not only for fiscal stimulus.

Conversely, some Post-Keynesian economists argue that deficit spending is necessary, either to create the money supply ( Chartalism ) or to satisfy demand for savings in excess of what can be satisfied by private investment.

Category: Post-Keynesian economists

Category: Post-Keynesian economists

Category: Post-Keynesian economists

Category: Post-Keynesian economists

Category: Post-Keynesian economists

The sense of a job guarantee program is used and advocated by some schools of Post-Keynesian economists, notably Neo-Chartalists in the Kansas City School of Economics and the Australian Centre of Full Employment and Equity, who advocate it as a solution for unemployment.

Category: Post-Keynesian economists

Mainstream economists sometimes assert that it has little or no influence on the vast majority of academic economists in the English speaking world .< ref > Among these economists, Robert M. Solow names Austrian, Post-Keynesian, Marxist, and neo-Ricardian schools.

Category: Post-Keynesian economists

The phrase " products are paid for with products " is taken to mean that Say has a barter model of money ; contrast with Circuitist and Post-Keynesian monetary theory.

Budget deficits are argued to be necessary by some within Post-Keynesian economics, notably the Chartalist school.

In some schools of heterodox economics, notably Austrian economics and Post-Keynesian economics, real estate bubbles are seen as an example of credit bubbles ( pejoratively, speculative bubbles ), because property owners generally use borrowed money to purchase property, in the form of mortgages.

Post-Keynesian economics can be seen as an attempt to rebuild economic theory in the light of Keynes's ideas and insights.

In addition, the crash which usually follows an economic bubble can destroy a large amount of wealth and cause continuing economic malaise ; this view is particularly associated with the debt-deflation theory of Irving Fisher, and elaborated within Post-Keynesian economics.

A Post-Keynesian theory of aggregate demand emphasizes the role of debt, which it considers a fundamental component of aggregate demand ; the contribution of change in debt to aggregate demand is referred to by some as the.

This perspective originates in, and is intimately tied to, the debt-deflation theory of Irving Fisher, and the notion of a credit bubble ( credit being the flip side of debt ), and has been elaborated in the Post-Keynesian school.

Post-Keynesian economics and monetary circuit theory reject the neutrality of money, instead emphasizing the role that bank lending and credit play in the creation of bank money.

The Post-Keynesian theory of debt deflation takes a demand-side view, arguing that property owners not only feel richer but borrow to ( i ) consume against the increased value of their property --- by taking out a home equity line of credit ), for instance ; or ( ii ) speculate by buying property with borrowed money in the expectation that it will rise in value.

Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, although its subsequent development was influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor and Paul Davidson.

CofFEE's work is on Post-Keynesian macroeconomics, labour economics, regional development and monetary economics.

Jan A. Kregel ( born 19 April 1944 ) is an eminent Post-Keynesian economist.

Some books edited by Eichner include A Guide to Post-Keynesian Economics, Why Economics Is Not Yet a Science, and The Macrodynamics of Advanced Market Economies.

The school partially overlaps with Post-Keynesian and Neo-Marxian economics.

* Post-Keynesian economics, including Modern Monetary Theory and Circuitism

Horizontalism influenced monetary circuit theorists to develop the endogenous money approach that was already nascent within Post-Keynesian academic thought.

In recent months, much attention has been given to the probable extent of the current downtrend in business and economists are somewhat divided as to the outlook for the near future.

Although they may not recognize themselves as antiglobalists and are pro-capitalism, some economists who don't share the neoliberal approach of international economic institutions have strongly influenced the movement.

The backward nature of expectation formulation and the resultant systematic errors made by agents ( see Cobweb model ) was unsatisfactory to economists such as John Muth, who was pivotal in the development of an alternative model of how expectations are formed, called rational expectations.

Typically when business people and economists talk of consumers they are talking about person as consumer, an aggregated commodity item with little individuality other than that expressed in the buy / not-buy decision.

Regression methods are important in econometrics because economists typically cannot use controlled experiments.

Ayres and Warr ( 2009 ) are among the economists who criticize orthodox economics for overlooking the role of natural resources and the effects of declining resource capital.

These estimates are important for engineers and economists so that proper risk analysis can be performed to influence investment decisions in future infrastructure and to determine the yield reliability characteristics of water supply systems.

However, most economists would say that cases where pricing is even approximately equal to the value of the labor embodied are only special cases, and not the general case.

According to economists Donald Deere ( Texas A & M ), Kevin Murphy ( University of Chicago ), and Finis Welch ( Texas A & M ), Card and Krueger's conclusions are contradicted by " common sense and past research ".

Currently, advocacy of mercantilist methods for maintaining high wages in advanced economies are popular among workers in those economies, but such ideas are rejected by most policymakers and economists.

Most of the European economists who wrote between 1500 and 1750 are today generally considered mercantilists ; this term was initially used solely by critics, such as Mirabeau and Smith, but was quickly adopted by historians.

Over the next two decades, Western Europe enjoyed unprecedented growth and prosperity, but economists are not sure what proportion was due directly to the ERP, what proportion indirectly, and how much would have happened without it.

Mathematical models are used not only in the natural sciences ( such as physics, biology, earth science, meteorology ) and engineering disciplines ( e. g. computer science, artificial intelligence ), but also in the social sciences ( such as economics, psychology, sociology and political science ); physicists, engineers, statisticians, operations research analysts and economists use mathematical models most extensively.

Two similar ideas are " Functional Overlapping Competing Jurisdictions " ( FOCJ ) advocated by Swiss economists Bruno Frey and Reiner Eichenberger and “ multigovernment ” advocated by Le Grand E. Day and others.

Academics who are economists, evolutionary theorists, and research psychologists describe revealing privacy as a ' voluntary sacrifice ', for instance by willing participants in sweepstakes or competitions.

Most mainstream economists believe that recessions are caused by inadequate aggregate demand in the economy, and favor the use of expansionary macroeconomic policy during recessions.

Because rational choice theory lacks understanding of consumer motivation, some economists restrict its use to understanding business behavior where goals are usually very clear.

More economists these days are learning from other fields, such as psychology, in order to get a more accurate view of human decision-making than offered by rational choice theory.

The most well known scholars of the Stockholm School of Economics are arguably the economists Eli Heckscher ( professor of economics and statistics 1909 – 1929, professor of economic history 1929 – 1945 ), Gunnar Myrdal and Bertil Ohlin ( professors of economics ).

The slope of an indifference curve ( in absolute value ), known by economists as the marginal rate of substitution, shows the rate at which consumers are willing to give up one good in exchange for more of the other good.

Ecologists are teaming up with economists to measure the wealth of ecosystems and to express their value as a way of finding solutions to the biodiversity crisis.

One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing " strong " sustainability and rejecting the proposition that natural capital can be substituted by human-made capital.

Value and price are not equivalent terms in economics, and theorising the specific relationship of value to market price has been a challenge for both liberal and Marxist economists.