The 'uncertain' foundations of post-Keynesian economics

About this book

"The author attempts to make a positive contribution to the development of Post Keynesian economics by refuting allegations of incoherence, detailing some of the salient implications of a transmutable conception of economic processes and then exploring what this means for how Post Keynesians conceptualise uncertainty. The book argues that the Post Keynesian distinctive view of time, understood as a non-deterministic open systems process, is a core and defining characteristic that is linked to its theoretical discussion of money and the principle of effective demand. It makes a vital contribution to the conceptualisation of uncertainty that is consistent with the methodological presuppositions of Post Keynesian economics. This permits a clarification of the relationship between other schools of thought such as institutionalists, Sraffians and Austrians." "Covering areas such as the coherence of Post Keynesianism, the future of Post Keynesian economics and Keynesian methodological debates, this book is mandatory reading for all Post Keynesian scholars with a strong interest in economic methodology and the philosophical underpinnings of economics."--book jacket.