Stephen Porter 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 coherence of Post Keynesianism, the future of Post Keynesian economics and Keynesian methodological debates, this book is mandatory reading for all Post Keynesian scholars with a strong interest in economic methodology and the philosophical underpinnings of economics."--book jacket.

"The recent financial crisis has once again seen John Kenneth Galbraith return to the bestseller lists. Yet, despite the continued popular success of his works, Galbraith's contribution to economic theory is rarely recognized by today's economists. This book redresses the balance by providing an introductory and sympathetic discussion of Galbraith's theoretical contributions, introducing the reader to his economics and his broader vision of the economic process. The book highlights and explains key features of Galbraith's economic thought, including his penetrating critique of society, his distinctive methodology, his specific brand of Keynesianism, and his original - but largely ignored - contribution to the theory of the firm. It also presents, for the first time, a detailed examination of Galbraith's monetary economics and revisits his analysis of financial euphoria. This unique work seeks to rehabilitate Galbraith's contribution, setting out several directions for possible future research in the Galbraithian tradition"--Provided by publisher.