A Post Keynesian response to Piketty

25 Oct, 2014 at 12:55 | Posted in Economics | Comments Off on A Post Keynesian response to Piketty

o-ECON-CHART-facebookThe rejection of specific theoretical arguments does not diminish the achievements of Piketty’s work. Capital is an outstanding work, it has brought issues of wealth and income distribution to the spotlight, where heterodox economists have failed to do so. It has also put together, and made readily available, an invaluable data set, and it allows future researchers to analyse macroeconomics with a much broader time horizon, covering much of the history of capitalism rather than the last few decades. But we do suggest that the analysis of the book would have been strengthened if Piketty had had also considered a post-Keynesian instead of a neoclassical framework.

Post Keynesian Economics Study Group

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