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Book Reviews

Some Constructive Comments on Steve Keen’s Manifesto for a New Economics

The New Economics: A Manifesto, Steve Keen, Cambridge, Polity, 2022, 140 pp., £12,99, ISBN-10: 1509545298, ISBN-13: 978-1509545292

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References

  • Bertocco, G., and A. Kalajzić. 2020. ‘A Keynes + Schumpeter Model to Explain the Relationship Between Money, Development and Crises.’ Review of Political Economy 33 (3): 390–413.
  • Bertocco, G., and A. Kalajzic. 2022a. ‘On the Monetary Nature of Savings: A Critical Analysis of the Loanable Funds Theory.’ Post Keynesian Economics Working Paper 2206.
  • Bertocco, G., and A. Kalajzić. 2022b. ‘Financial Frictions and Crises in a Minskyan Perspective.’ STOREPapers, WP 1 – 2022.
  • Keen, S. 2014. ‘Endogenous Money and Effective Demand.’ Review of Keynesian Economics 3: 271–291.
  • Keen, S. 2020. ‘Emergent Macroeconomics: Deriving Minsky’s Financial Instability Hypothesis Directly from Macroeconomic Definitions.’ Review of Political Economy 32 (3): 342–370.
  • Keen, S. 2022. The New Economics. A Manifesto. Cambridge: Polity Press.
  • Keynes, J. M. 1936 [2013]. The General Theory of Employment, Interest, and Money, reprinted in J.M. Keynes (2013), The Collected Writings, London, Cambridge University Press for the Royal Economic Society, vol. VII, pp. i–xxxvii and 1–427.
  • Fiebiger, B. 2014. ‘Bank Credit, Financial Intermediation and the Distribution of National Income All Matter to Macroeconomics.’ Review of Keynesian Economics 2 (3): 292–311.
  • Friedman, M. 1968. ‘The Role of Monetary Policy.’ American Economic Review, March, pp. 1–17.
  • Friedman, M. 1977. ‘Nobel Lecture: Inflation and Unemployment.’ The Journal of Political Economy 85 (3): 451–472.
  • Lavoie, M. 2014. ‘A Comment on ‘Endogenous Money and Effective Demand’: A Revolution or a Step Backwards?’ Review of Keynesian Economics 2 (3): 321–332.
  • Minsky, H. P. 1975. John Maynard Keynes. New York: Columbia University Press.
  • Minsky, H. 1986. ‘Money and Crisis in Schumpeter and Keynes.’ In The Economic Law of Motion of Modern Society, edited by H. Wagener, and J. Drukker. Cambridge: Cambridge University Press.
  • Minsky, H. 1990. ‘Schumpeter: Finance and Evolution.’ In Evolving Technology and Market Structure. Studies in Schumpeterian Economics, edited by A. Heertje, and M. Perlman. Ann Arbor: The University of Michigan Press.
  • Minsky, H. 1993. ‘Schumpeter and Finance.’ In Markets and Institutions in Economic Development, edited by S. Biasco, A. Roncaglia, and M. Salvati. London: Macmillan.
  • Ohlin, B. 1937a. ‘Some Notes on the Stockholm Theory of Savings and Investment I.’ The Economic Journal 47: 53–69.
  • Ohlin, B. 1937b. ‘Some Notes on the Stockholm Theory of Saving and Investment II.’ The Economic Journal 47: 221–240.
  • Ohlin, B. 1937c. ‘Alternative Theories of the Rate of Interest: Three Rejoinders.’ The Economic Journal 47: 423–427.
  • Palley, T. 2014. ‘Aggregate Demand, Endogenous Money, and Debt: A Keynesian Critique of Keen and an Alternative Theoretical Framework.’ Review of Keynesian Economics 2 (3): 312–320.
  • Schumpeter, J. A. 1912 [1949]. Theorie der Wirtschaftlichen Entwicklung. Berlin: Duncker & Humblot. English Edition, The Theory of Economic Development, Harvard University Press, Cambridge, MA.
  • Wicksell, K. 1898 [1958]. The Influence of the Rate of Interest on Commodity Prices. Reprinted in Wicksell, K. (1958), Selected Papers on Economic Theory. Edited by Erik Lindahl, 67–89. London: George Allen & Unwin.

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