Description
Book SynopsisThis book is the third and final volume of essays celebrating the work and lifetime contribution of Paul Davidson to economics, specifically the development of post Keynesian Economics.
The outstanding group of international economists examine areas in which Paul Davidson has an interest, or has made significant contributions. They explore international macroeconomic issues such as consumption and investment, wage and price flexibility, sticky prices and aggregate production, and financial liberalization. Other contributions discuss economic rhetoric and post Keynesian methodological issues while the final part of the book turns to real problems such as the politics and economics of the European Union, the stabilization of the international oil market and realities of financial liberalization.
Trade Review'The editor has skillfully included the discussion of policy issues in a manner that the reader is allowed to discuss the topical issues from the point of view of different perspectives on the basis of their respective methodological foundations. The book is a methodologist's delight, and at the same time the focus is on understanding methodological foundations, which is tantamount to understanding crucial dimensions of economic processes.' -- Satya Prasad, Kyklos
Table of ContentsContents: Introduction (P. Arestis) 1. Davidson, Non-Ergodicity and Individuals (J.B. Davis) 2. Social Relations, Social Reproduction and Stylised Facts (T. Lawson) 3. Rhetoric, Paradigms, and the Relevance of the Aggregate Production Function (J. McCombie) 4. Keynes in Retrospect (R. Clower) 5. Consumption and Investment when Bankruptcy is not a Fate worse than Death (M.J. Gordon, S. P. Sethi) 6. Marx, Keynes, and Class War in America (W.C. Peterson) 7. Why Wage and Price Flexibility is Destabilising (B. Moore) 8. On Sticky Prices: A Post Keynesian Perspective (R. Rotheim) 9. Some Considerations on the Economics and Politics of the EU and the Maastricht Treaty (K.W. Rothschild) 10. The International Oil Market: Structural Changes and Stabilization Policies (A. Roncaglia) 11. Financial Liberalisation: Myth or Reality (P. Arestis, P. Demetriades) P. Davidson: Bibliography Index
