© 2016

Post-Keynesian Essays from Down Under Volume IV: Essays on Theory

Theory and Policy in an Historical Context


Table of contents

  1. Front Matter
    Pages i-xiv
  2. Introduction

    1. Joseph Halevi
      Pages 1-11
  3. Economic Theory

About this book


Joseph Halevi, G. C. Harcourt, Peter Kriesler and J. W. Nevile bring together a collection of their most influential papers on post-Keynesian thought. Their work stresses the importance of the underlying institutional framework, of the economy as a historical process and, therefore, of path determinacy. In addition, their essays suggest the ultimate goal of economics is as a tool to inform policy and make the world a better place, with better being defined by an overriding concern with social justice. Volume IV explores theory.


economic theory keynes post-keynesian capital theory economics employment equilibrium John Maynard Keynes Keynesian economics monetary policy unemployment

Authors and affiliations

  1. 1.Center CRIISEA of the Universit é de PicardieAmiensFrance
  2. 2.University of SydneyAustralia
  3. 3.International University CollegeTurinItaly
  4. 4.University of New South WalesAustralia

About the authors

Joseph Halevi was born 1946 in Haifa, then British Palestine. An Alama Mater University of Rome La Sapienza, he began teaching economics at the New School of Social Research in New York and later at Rutgers University. He has a permanent appointment at the University of Sydney. He was Visiting Professor at the University of Connecticut and regularly in France at the Universities of Grenoble, Nice and Amiens. He has authored many books and contributed to the first edition of The New Palgrave Dictionary of Economics in 1987 and co-edited Beyond the Steady State with Macmillan in 1992, among others.

Geoff C. Harcourt was born in Melbourne, Australia in 1931. He was a graduate of the Universities of Melbourne and Cambridge. He has worked mainly at Adelaide (1958 to 1985) and Cambridge (1964 to 1966; 1972 to 1973; 1980; 1982-2010). He is now Visiting Professorial Fellow at UNSW Australia. He has authored or edited 29 books and over 360 articles, notes, chapters in books and reviews. His books include Some Cambridge Controversies in the Theory of Capital (1972), The Structure of Post-Keynesian Economics (2006), (with Prue Kerr) Joan Robinson (2009) and (jointly edited with Peter Kriesler) The Oxford Handbook of Post-Keynesian Economics (2013).

Peter Kriesler currently teaches in the School of Economics at the University of New South Wales. He also organizes the Annual Australian Society of Heterodox Economists Conference, which is now in its fourteenth year. Peter's main publications are in the areas of history of economic thought, heterodox economics, the Australian economy, labour economics, and economic perspectives on human rights.

J. W. Neville is Emeritus Professor at the University of New South Wales in Sydney, Australia. He has published extensively on fiscal policy, macroeconomic policy in general, economics and ethics, and the history of economic thought. He has served on a number of statutory authorities and government enquiries.

Bibliographic information

  • Book Title Post-Keynesian Essays from Down Under Volume IV: Essays on Theory
  • Book Subtitle Theory and Policy in an Historical Context
  • Authors G. Harcourt
    Peter Kriesler
    Joseph Halevi
    John Nevile
  • DOI
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2016
  • Publisher Name Palgrave Macmillan, London
  • eBook Packages Economics and Finance Economics and Finance (R0)
  • Hardcover ISBN 978-1-137-47528-2
  • Softcover ISBN 978-1-349-56954-0
  • eBook ISBN 978-1-137-47529-9
  • Edition Number 1
  • Number of Pages XIV, 525
  • Number of Illustrations 0 b/w illustrations, 0 illustrations in colour
  • Topics Economic Theory/Quantitative Economics/Mathematical Methods
  • Buy this book on publisher's site


'The openness to new policy ideas in the wake of the crisis needs a different theoretical understanding of the economy from the prevailing mainstream. That such an alternative is available in post-Keynesian economics is evident from this impressive collection of essays from four leading Australian political economists. Joseph Halevi, Geoff Harcourt, Peter Kriesler and John Nevile bring together a selection of their contributions to post-Keynesian theory, built on the work of theoretical pioneers. While each of the four brings his own perspective, the collection displays an unusual degree of cohesion resulting from their shared influences and collaborations.'

Sheila Dow, Emeritus Professor of Economics at the University of Stirling, UK

'The essays in this volume exude the importance of economic theory and, in particular, the importance of a truly alternative theory that transcends patched-up amendments of orthodoxy. Uncoupling the theories of value and distribution from the straitjacket of marginal productivity theory and recognizing the limits of equilibrium theorizing (and the importance of path dependency) are but two important items on the agenda. The book could well be subtitled 'Theory Done Right'. Its contents demonstrate that as regards economic theory, there is much to be admired about, and much to be learned from, the view from Down Under.'

Mark Setterfield, Professor of Economics, New School for Social Research, USA

'A valuable collection to inspire some and remind others how little they know.'

James Forder, Balliol College Oxford, UK