The introduction of a General Theory perspective on investment into Hicks's trade cycle model generates a cyclical growth model which reconciles the apparently divergent visions of Harrod and Hicks. Growth occurs without the need to postulate autonomous investment, cycles occur without ceilings...

The long-range impact of real returns on any form of saved or invested money on a macroeconomy is modeled and discussed. It is shown that, subject to conditions concerning savings rate and loan amortization time, any economic system with positive real returns must eventually reach a...

The paper deals with Keynes's critique of Pigou, and takes issue with Nahid Aslanbeigui's recent attempt to "rehabilitate" the latter. I argue that Keynes made one significant mistake of interpretation, but that this by no means vitiaites his critique.

We make the argument that what failed in the USSR was not socialist planning as such, but a particular and definitely flawed variant of same, and suggest the outlines of an alternative system of planning. The paper is complementary to our 1993 book, "Towards a New Socialism."

It is a lengthy review essay on Rudy van Zijp's book "Austrian and New Classical Business Cycle Theories" (Elgar, 1993) The review is quite critical, both of the book and of Hayek (whose theories are foremost among the Austrian works considered by van Zijp).

The paper deals with Hayek's ideas concerning transition between different 'structures of production' and argues that while these ideas are of interest, they are fundamentally flawed. The relationships between Hayek's cycle theory and (a) Keynes and (b) Robert Lucas are also examined.

The central propositions in Steedman’s 1992 paper "Questions for Kaleckians" were (a) that the input-output aspects of production must be taken account of in any account of price setting under capitalism; and (b) that one consequence of this is that the constraints which govern a mathematical...

The paper criticizes Basil Moore's contention (in his 1988 book, "Horizontalists and Verticalists") that the theory of endogenous money invalidates the 'traditional' Keynesian idea of the multiplier.

This paper proposes that an axiomatic foundation for Post Keynesian economics exists in Marx. It has been shown elsewhere (Keen, S., 1993a, "Use-value, exchange-value and the demise of Marx's labor theory of value", Journal of the History of Economic Thought [JHET], Vol. 15, No. 1, pp. 107-121;...

The concept of "use-value" and the question of the source of value in Marx's economics are analysed. The traditional interpretation of Marx, which argues that use-value plays no role in his economics, is detailed. The evidence on Marx's employment of the concept is investigated. It is concluded...