Synopses & Reviews
The multiplier is a central concept in Keynesian and post-Keynesian economics. It is largely what justifies activist full-employment fiscal policy: an increase in fiscal expenditures contributing to multiple rounds of spending, thereby financing itself. Yet, while a copingstone of post-Keynesian theory, it is not universally accepted by all post-Keynesians, for reasons vastly different than the mainstream.
This book explores both the pros and cons of the multiplier from a strictly post-Keynesian ? and Kaleckian ? approach. Anchored within the tradition of endogenous money, this book offers a lively discussion from a number of well-known post-Keynesians from a variety of perspectives: history of thought, theory and economic policy. The book starts by analysing the historical foundations of the Keynesian Multiplier and it's treatment throughout the history of economic thought. Moving through a critical debate about the limits of the multiplier, the contributions finish by offering cutting edge new views on this fascinating concept.
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Synopsis
Keynes' notion of "the multiplier" is central to the General Theory. Despite this, many economists have not fully endorsed the multiplier principle and this new book debates all aspects of this important tool. The only book to tackly this important subject, "The" "Keynesian Multiplier" is sure to be a hit with macroeconomists everywhere.