Post-Keynesian Macroeconomics: Basic Perspectives

Abstract

The paper considers basic perspectives of post-Keynesian macroeconomics. The author describes post-Keynesian views on theories of durables choice, endogenous money, financial fragility, hysteresis, conflict inflation and endogenous growth. The paper shows distinctions of post-Keynesian approach from both neoclassical tradition and other branches of Keynesianism. The author examines links between post-Keynesian macroeconomics and macroeconomics of Keynes. The paper also considers post-Keynesian views on economic policy and analyzes the relevance of post-Keynesian approach for the post-Soviet Russian economy.