Abstract
I first met Jan Kregel in the early 1980s at the annual summer Trieste International School that he had organized along with Pierangelo Garegnani and Sergio Parrinello on various topics of Post-Keynesian Economics. I had read his work, which was included in most PhD syllabi classes at The New School. My next encounter with Kregel was through Hyman P. Minsky at the Levy Economics Institute in New York when he became a frequent speaker, panelist and discussant at conferences, workshops and other institute events. He would regularly contribute his writings to the institute’s publications; the first one was on ‘Globalization, Capital Flows and International Regulation.’
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
References
Eichner, A.S. and Kregel, J.A. (1975) ‘An Essay on Post-Keynesian Theory: A New Paradigm in Economics’, Journal of Economic Literature 13(4): 1293–314.
Kregel, J.A. (1971) Rate of Profit, Distribution and Growth: Two Views (Chicago and New York: Aldine-Atherton).
Kregel, J.A. (1972) The Theory of Economic Growth (London: Palgrave Macmillan).
Kregel, J.A. (1973 [1975]) The Reconstruction of Political Economy (London: Palgrave Macmillan).
Kregel, J.A. (1976a) The Theory of Capital (London: Palgrave Macmillan).
Kregel, J.A. (1976b) ‘Economic Methodology in the Face of Uncertainty: The Modeling Methods of Keynes and the Post-Keynesians’, Economic Journal 86(342): 209–25.
Kregel, J.A. (1976c) ‘Sraffa et Keynes: le taux d’intérít et le taux de profit’, Cahiers d’Economie Politique 3: 135–63.
Kregel, J.A. (1977) ‘On the Existence of Expectations in English Neoclassical Economics’, Journal of Economic Literature 15(2): 495–500.
Kregel, J.A. (1978) ‘Post-Keynesian Theory: Income Distribution’, Challenge 22(4): 37–43.
Kregel, J.A. (1980a) ‘Marx, Keynes and Social Change: Is Post-Keynesian Theory Neo-Marxist?’, in E.J. Nell (ed.) Growth, Profits and Property (New York: Cambridge University Press).
Kregel, J.A. (1980b) ‘Economic Dynamics and the Theory of Steady Growth: An Historical Essay on Harrod’s Knife-Edge’, History of Political Economy 12(1): 97–123.
Kregel, J.A. (1980c) ‘The Theoretical Consequences of Economic Methodology: Samuelson’s Foundations’, Metroeconomica 32(1): 25–38.
Kregel, J.A. (1982) ‘Money, Expectations and Relative Prices in Keynes’ Monetary Equilibrium’, Economie Appliquée 36(3): 449–65.
Kregel, J.A. (1983a) ‘Effective Demand: Origins and Development of the Notion’, in J.A. Kregel (ed.) Distribution, Effective Demand & International Economic Relations (London: Palgrave Macmillan).
Kregel, J.A. (1983b) ‘The Microfoundations of the “Generalisation of the General Theory” and “Bastard Keynesianism”: Keynes’ Theory of Employment in the Long and the Short Period’, Cambridge Journal of Economics 7(3–4): 343–61.
Kregel, J.A. (1984–85) ‘Constraints on the Expansion of Output and Employment’, Journal of Post Keynesian Economics 7(2): 139–52.
Kregel, J.A. (1985) ‘Hamlet Without the Prince: Cambridge Macroeconomics Without Money’, American Economic Review 75(2): 133–39.
Kregel, J.A. (1986) ‘Shylock and Hamlet: Are There Bulls and Bears in the Circuit?’, Economies et Sociétés 3: 11–22.
Kregel, J.A. (1987) ‘The Effective Demand Approach to Employment and Inflation Analysis’, Journal of Post Keynesian Economics 10(1): 133–45.
Kregel, J.A. (1988a) ‘The Multiplier and Liquidity Preference: Two Sides of the Theory of Effective Demand’, in A. Barrere (ed.) The Foundations of Keynesian Analysis (London: Palgrave Macmillan).
Kregel, J.A. (1988b) ‘Irving Fisher, Great-grandparent of the General Theory’, Cahiers d’Economie Politique 14–15: 59–68.
Kregel, J.A. (1988c) ‘Financial Innovation and the Organization of Stock Market Trading’, Banca Nationale del Lavoro Quarterly Review 40(167): 367–86.
Kregel, J.A. (1992a) ‘Some Considerations on the Causes of Structural Change in Financial Markets’, Journal of Economic Issues 26(3): 733–47.
Kregel, J.A. (1992b) ‘Minsky’s “Two Price” Theory of Financial Instability and Monetary Policy: Discounting vs. Open Market Intervention’, in S. Fazzari and D.B. Papadimitriou (eds) Financial Conditions and Macroeconomic Performance: Essays in Honor of Hyman P. Minsky (Armonk, NY: M.E. Sharpe).
Kregel, J.A. (1994a) ‘Currency Speculation and the Summer 1993 Crisis in the ERM: Irrational Expectations and Imperfect Information’, Economies et Sociétés 9: 301–14.
Kregel, J.A. (1994b) ‘Global Portfolio Allocation, Hedging and September 1992 in European Monetary System’, in P. Davidson and J.A. Kregel (eds) Growth, Employment and Finance — Economic Reality and Economic Theory (Aldershot, UK: Edward Elgar).
Kregel, J.A. (1994c) ‘Capital Flows: Globalization of Production and Financing Development’, UNCTAD Review, 23–38.
Kregel, J.A. (1994–95) ‘The viability of economic policy and the priorities of economic policy’, Journal of Post Keynesian Economics 17(2): 261–77.
Kregel, J.A. (1995) ‘Neoclassical Price Theory, Institutions and the Evolution of Securities Market Organization’, Economic Journal 105(429): 459–70.
Kregel, J.A. (1996a) ‘Globalization, Capital Flows, and International Regulation’, Working Paper No. 161 (Annandale-on-Hudson, NY: Levy Economics Institute of Bard College).
Kregel, J.A. (1996b) ‘Consideration of Some Problems Arising in Transition to the Third Stage of European Monetary Union’, Banca Nazionale del Lavoro Quarterly Review, Special Issue (March): 121–35.
Kregel, J.A. (1997) ‘Margins of Safety and Weight of the Argument in Generating Financial Fragility’, Journal of Economic Issues 31(2): 543–8.
Kregel, J.A. (1998a) ‘Aspects of a Post Keynesian Theory of Finance’, Journal of Post Keynesian Economics 21(1): 113–37.
Kregel, J.A. (1998b) ‘East Asia is not Mexico: The Difference Between Balance of Payments Crises and Debt Deflations’, in Jomo, K.S. (ed.) Tigers in Trouble: Financial Governance, Liberalisation and Crises in East Asia (London: Zed Press).
Kregel, J.A. (1998c) ‘Derivatives and Global Capital Flows: Applications to Asia’, Cambridge Journal of Economics 22(6): 677–92.
Kregel, J.A. (1998d) ‘The Past and Future of Banks’, Quaderni di Ricerche 21 (Milano: Bancaria Editrice).
Kregel, J.A. (1999a) ‘Currency Stabilization Through Full Employment: Can EMU Combine Price Stability with Employment and Income Growth?’, Eastern Economic Journal 25(1): 35–47.
Kregel, J.A. (1999b) ‘Can European Banks Survive a Unified Currency in a Nationally Segmented Capital Market?’ Financier, Philadelphia.
Kregel, J.A. (2000) ‘Yes “IT” Happened Again: The Minsky Crisis in Asia’, in R. Bellofiore and P. Fierri (eds) Financial Keynesianism and Market Instability (Aldershot, UK: Edward Elgar).
Kregel, J.A. (2004a) ‘Krugman on the liquidity trap: why inflation won’t bring recovery in Japan’, in R. Arena and N. Salvadori (eds) Essays in Honor of Augusto Graziani (Aldershot, UK: Ashgate Publishing).
Kregel, J.A. (2004b) ‘Two Views on the Obstacles to Development’, Social Research 71(2): 279–92.
Kregel, J.A. (2004c) ‘Can We Create a Stable International Financial Environment that Ensures Net Resource Transfers to Developing Countries?’, Journal of Post Keynesian Economics 26(4): 573–90.
Kregel, J.A. (2008a) ‘Financial Flows and International Imbalances’, Working Paper No. 528 (Annandale-on-Hudson, NY: Levy Economics Institute of Bard College).
Kregel, J.A. (2008b) ‘The Discrete Charm of the Washington Consensus’, Working Paper No. 533 (Annandale-on-Hudson, NY: Levy Economics Institute of Bard College).
Kregel, J.A. (2008c) ‘Using Minsky’s Cushions of Safety to Analyze the Crisis in the U.S. Subprime Mortgage Market’, International Journal of Political Economy 37(1): 3–23.
Kregel, J.A. (2008d) ‘The Continuing Policy Relevance of Keynes’ General Theory’, in M. Forstater and L.R. Wray (eds) Keynes for the 21st Century: The Continuing Relevance of the General Theory (London: Palgrave Macmillan).
Kregel, J.A. (2009a) ‘On “The Value of Money”’, Social Scientist 37: 4–15.
Kregel, J.A. (2009b) ‘Mobilising Domestic Resources: Employer of Last Resort as a National Development Strategy to Achieve the Internationally Agreed Development Goals’, International Journal of Political Economy 38(3): 39–57.
Kregel, J.A. (2009c) ‘The Debt Trade Causality in Balance of Payments Accounting’, in A. Caliari (ed.) Debt and Trade: Making Linkages for the Promotion of Development, Report from A Policy Roundtable, 14–24.
Kregel, J.A. (2009d) ‘The Global Crisis and the Implications for Developing Countries and the BRICs: Is the B Really Justified?’, Public Policy Brief No.102 (Annandale-on-Hudson, NY: Levy Economics Institute of Bard College).
Kregel. J.A. (2010a) ‘Fiscal Responsibility: What Exactly Does It Mean?’ Working Paper 602 (Annandale-on-Hudson, NY: Levy Economics Institute of Bard College).
Kregel, J.A. (2010b) ‘Keynes’ Influence on Modern Economics: Some Overlooked Contributions of Keynes’ Theory of Finance and Economic Policy’, in B.W. Bateman, T. Hirai and M.C. Marcuzzo (eds) The Return to Keynes (Cambridge, MA: Harvard University Press-Belknap Press).
Kregel, J.A. (2010c) ‘What would Minsky have thought of the mortgage crisis?’, in D.B. Papadimitriou and L.R. Wray (eds) The Elgar Companion to Hyman Minsky (Cheltenham, UK: Edward Elgar).
Kregel, J.A. (2010d) ‘Is This the Minsky Moment for Reform of Financial Regulation?’, Working Paper No. 586 (Annandale-on-Hudson, NY: Levy Economics Institute of Bard College).
Kregel, J.A. (2010e) ‘No Going Back: Why We Cannot Restore Glass-Steagall’s Segregation of Banking and Finance’, Public Policy Brief No. 107 (Annandaleon-Hudson, NY: Levy Economics Institute of Bard College).
Kregel, J.A. (2011) ‘Debtors’ Crisis or Creditors Crisis? Who Pays for the European Sovereign and Subprime Losses?’, Public Policy Brief No. 121 (Annandale-on-Hudson, NY: Levy Economics Institute of Bard College).
Kregel, J.A. (2012) ‘Six Lessons from the Euro Crisis’, Policy Note 2012/10 (Annandale-on-Hudson, NY: Levy Economics Institute of Bard College).
Kregel, J.A. (2013a) ‘Was Keynes’ Monetary Policy, a Outrance in the Treatise, the Model for ZIRP and QE?’, in T. Hirai, M.C. Marcuzzo and P. Mehrling (eds) Keynesian Reflections: Effective Demand, Money, Finance, and Policies in the Crisis (Oxford: Oxford University Press).
Kregel, J.A. (2013b) ‘Political Economy Approaches to Financial Crisis: Hyman Minsky’s Financial Instability Hypothesis’, in M.H. Wolfson and G.A. Epstein (eds) The Handbook of Political Economy of Financial Crisis (Oxford: Oxford University Press).
Kregel J.A., E. Matzner and G. Grabher (1992) Market Shock: An Agenda for the Economic and Social Reconstruction of Central and Eastern Europe (Ann Arbor, MI: University of Michigan Press).
Levy Economics Institute (2011) ‘Minsky on the Reregulation and Restructuring of the Financial System’, Levy Institute/Ford Foundation Project Report, April.
Levy Economics Institute (2012) ‘Using Minsky to Simplify Financial Regulation’, Levy Institute/Ford Foundation Project Report, April.
Minsky, H.P. (1982) Can ‘It’ Happen Again? Essays on Instability and Finance (Armonk, NY: M.E. Sharpe).
Ocampo, J.A., J.A. Kregel and S. Griffith-Jones (2007) International Finance and Development (New York: Zed Books).
Wray, L.R. (2013) ‘Kregel, Jan A.’ in T. Cate (ed.) An Encyclopedia of Keynesian Economics, Second Edition (Cheltenham, UK: Edward Elgar).
Editor information
Editors and Affiliations
Copyright information
© 2014 Dimitri B. Papadimitriou
About this chapter
Cite this chapter
Papadimitriou, D.B. (2014). Jan Kregel’s Economics. In: Papadimitriou, D.B. (eds) Contributions to Economic Theory, Policy, Development and Finance. Levy Institute Advanced Research in Economic Policy. Palgrave Macmillan, London. https://doi.org/10.1057/9781137450968_1
Download citation
DOI: https://doi.org/10.1057/9781137450968_1
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-68671-1
Online ISBN: 978-1-137-45096-8
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)