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on Post Keynesian Economics |
| By: | David Colander; Hugo Nopo Key Words: Latin American economics, global economics, political economy, graduate training, Latin America, applied economics |
| Abstract: | This paper provides some background for considering the future of these two traditions by looking at global Latin American graduate economic programs. It reports the findings of a survey of Latin American global economics programs and discusses the debate between global economics and traditional economics, arguing that there is a role for both, with global economics concentrating on the science of economics, and traditional economics concentrating on the applied policy "political economy" branch of economics--which is much broader than the applied policy training that graduate students get in global economics. |
| Date: | 2007–05 |
| URL: | http://d.repec.org/n?u=RePEc:mdl:mdlpap:0705&r=pke |
| By: | David Colander |
| Abstract: | This paper argues that Robbins’ famous definition of economics was of “economic science” which he saw as only a narrow branch of the field of economics. Moreover, it was descriptive, not prescriptive, and was simply a statement that that was what economists were then doing in the science of economics. His prescriptive message was that policy belonged in the “political economy” branch of economics, and that the science of economics should avoid value judgments, but that political economy should include value judgments. That prescriptive message has been lost. |
| Date: | 2007–06 |
| URL: | http://d.repec.org/n?u=RePEc:mdl:mdlpap:0706&r=pke |
| By: | León Díaz, John Jairo |
| Abstract: | During the seventies, Keynesianism faced the most critical decade. It was characterized by some deep critics to the "General Theory", due to the ausence of strong microfoundations and a overdimensionated importance of demand shocks over the role of supply shock in economic theory. Eighties unleash the beginning of a new authors stream; it has as a main purpose to develop an answer to all those critics made during the past decade. In such way, a new stream named the newkeynesianism had appeared. On the other side, the Postkeynesianism seemed to be far from the critics. It was supossed to be the next step in Keynesianism theory, since its major effort was to provide a framework for the analysis of long run economics, just like a growth theory. |
| Keywords: | Keynesianismo; Poskeynesianismo; Nuevokeynesianismo |
| JEL: | B20 B51 B25 B30 |
| Date: | 2007 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:4600&r=pke |