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Microeconomics After Keynes: Post Keynesian Economics and Public Policy
Author(s) -
PRESSMAN STEVEN
Publication year - 2011
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.2011.00775.x
Subject(s) - economics , post keynesian economics , keynesian economics , neoclassical economics , productivity , neo keynesian economics , heterodox economics , new keynesian economics , macroeconomics , schools of economic thought , applied economics , mainstream economics , monetary policy
A bstract Post Keynesian economics has mainly focused on macroeconomic issues and ignored microeconomic policy issues. This paper begins to remedy this gap. It outlines the main principles of the Post Keynesian approach, distinguishes them from neoclassical economics, explains how these principles can be applied to microeconomic issues, and then draws out some policy implications that differ markedly from neoclassical theory on the issues of health care and productivity growth.