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Hamburg 2014: Post Keynesian economics, falling marginal cost, and money

Summary:
At the request of the Rethinking Economics students at Hamburg (who commented that 98% of the students there would never have heard of Post-Keynesian economics, given how narrow the curriculum was) I gave a quick overview of Post Keynesian economics, followed by an example of one Post Keynesian critique of Neoclassical economics–the empirical invalidity of ...

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At the request of the Rethinking Economics students at Hamburg (who commented that 98% of the students there would never have heard of Post-Keynesian economics, given how narrow the curriculum was) I gave a quick overview of Post Keynesian economics, followed by an example of one Post Keynesian critique of Neoclassical economics–the empirical invalidity of the assumption of rising marginal cost–and then covered Endogenous Money versus Loanable Funds and Minsky’s Financial Instability Hypothesis


Steve Keen
Steve Keen (born 28 March 1953) is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. The major influences on Keen's thinking about economics include John Maynard Keynes, Karl Marx, Hyman Minsky, Piero Sraffa, Augusto Graziani, Joseph Alois Schumpeter, Thorstein Veblen, and François Quesnay.

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