Post-Keynesian Economics for the Future - Sustainability, Policy and Methodology

This timely book provides 15 chapters of cutting-edge academic work related to Post-Keynesian economics for the future. This includes stock-flow consistent modelling and analyses of the key challenges associated with the economic policies of sustainability. The first part highlights the important challenges of understanding the increasingly disrupted macroeconomic system of global supply chains, fluctuating inflation and unsustainable development in an uncertain and unpredictable economic environment. These changes call for an updated analytical framework at the global and national levels. For this purpose, the expert contributors firstly present a stock-flow consistent model framework to analyse these new conditions in order to achieve sustainable development in the future. The next sections contain contributions offering a renewed understanding of key macroeconomic phenomena such as Keynes’s fundamental uncertainty and principle of effective demand in an increasingly unstable economic and political system. Following chapters discuss how to re-establish and coordinate a demand-led and sustainable growth path using unconventional fiscal and monetary policy in an unpredictable global environment. The book contains important updates of macroeconomic theory and method, and presents a number of empirical case-studies. It will be an indispensable read for scholars and students interested in the development within Post-Keynesian theory, policy and methodology. It will also be informative for civil servants working in the Treasury or banking sectors, and policymakers in public and private institutions making decisions for the future in an uncertain economic environment.