by Summary:
Not MMT, but you may find this of interest. In the context of the radical Macroeconomics Course I am teaching, I was very unhappy with the material available which tries to explain what Keynes is saying. In attempting to explain it better, I constructed an extremely simple model of a primitive agricultural economy. This model has a lot of pedagogical value in that it can demonstrate many complex phenomenon in very simple terms. In particular, Keynesian, Marxists, Classical and Neo-Classical concepts can be illustrated and compared within our model. We will show the failure of all neoclassical concepts of labor, Supply and Demand, equality of marginal product, value theory — the whole she-bang — in an intuitive and easy to understand plausible model of a simple economy. WEA Pedagogy
Topics:
Mike Norman considers the following as important: economic modeling, Post Keynesian Economics, teaching economics
This could be interesting, too:
Not MMT, but you may find this of interest. In the context of the radical Macroeconomics Course I am teaching, I was very unhappy with the material available which tries to explain what Keynes is saying. In attempting to explain it better, I constructed an extremely simple model of a primitive agricultural economy. This model has a lot of pedagogical value in that it can demonstrate many complex phenomenon in very simple terms. In particular, Keynesian, Marxists, Classical and Neo-Classical concepts can be illustrated and compared within our model. We will show the failure of all neoclassical concepts of labor, Supply and Demand, equality of marginal product, value theory — the whole she-bang — in an intuitive and easy to understand plausible model of a simple economy. WEA Pedagogy
Topics:
Mike Norman considers the following as important: economic modeling, Post Keynesian Economics, teaching economics
This could be interesting, too:
Mike Norman writes Why the fantasy world of neoclassical economics is undermining our wellbeing — Richard Murphy
Mike Norman writes ‘Fridays for Keynesianism’ — Peter Bofinger
Mike Norman writes Lars P. Syll — Economics — too important to be left to economists
Mike Norman writes Lars P. Syll — Does it–really–take a model to beat a model?
In the context of the radical Macroeconomics Course I am teaching, I was very unhappy with the material available which tries to explain what Keynes is saying. In attempting to explain it better, I constructed an extremely simple model of a primitive agricultural economy. This model has a lot of pedagogical value in that it can demonstrate many complex phenomenon in very simple terms. In particular, Keynesian, Marxists, Classical and Neo-Classical concepts can be illustrated and compared within our model. We will show the failure of all neoclassical concepts of labor, Supply and Demand, equality of marginal product, value theory — the whole she-bang — in an intuitive and easy to understand plausible model of a simple economy.WEA Pedagogy Blog
Simple Model Explains Complex Keynesian Concepts
Asad Zaman | Vice Chancellor, Pakistan Institute of Development Economics and former Director General, International Institute of Islamic Economics, International Islamic University Islamabad