This paper analyses the determination of prices within a Kaleckian and Minskian framework. In the Minskian model, public deficit generates mark-up inflation, a result that resembles Neo-Keynesian models of growth. In the Kaleckian model, an increase in aggregate demand is not absorbed by...

New Keynesian and DSGE models fail to portray Keynes' insights in many respects. The intention of this paper is to offer a critical review of the so-called New Consensus Macroeconomics related to the understanding of the theoretical underpinning in The General Theory in which money plays a...

This paper is concerned with ambiguities in the Post Keynesian model regarding the nature of the functions involved in the determination of the demand for labour. Those ambiguities have led to misleading representations of Keynes's theories regarding the demand for labour and to conceptually...