The 'uncertain' foundations of post-Keynesian economics

Stephen Porter Dunn, Stephen Dunn

"The author attempts to make a positive contribution to the development of Post Keynesian economics by refuting allegations of incoherence, detailing some of the salient implications of a transmutable conception of economic processes and then exploring what this means for how Post Keynesians conceptualise uncertainty. The book argues that the Post Keynesian distinctive view of time, understood as a non-deterministic open systems process, is a core and defining characteristic that is linked to its theoretical discussion of money and the principle of effective demand. It makes a vital contribution to the conceptualisation of uncertainty that is consistent with the methodological presuppositions of Post Keynesian economics. This permits a clarification of the relationship between other schools of thought such as institutionalists, Sraffians and Austrians." "Covering areas such as the...

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