Journal of Post Keynesian Economics最新文献

{"title":"Post-Keynesian economics and social policy: equality of opportunity or equality of place?","authors":"Camilo Andrés Guevara Castañeda","doi":"10.1080/01603477.2023.2251963","DOIUrl":"https://doi.org/10.1080/01603477.2023.2251963","url":null,"abstract":"AbstractThis article shows that post-Keynesian economics is more closely tied to the proposal of equality of place rather than that of equality of opportunity. More precisely, it advocates for the approach of utilizing equality of place as a means to attain equality of opportunity. These are two conceptions of social policy. Equality of opportunity distinguishes between poor and non-poor, and state intervention is focused on poor people. This mode of intervention promotes individuals’ improvements in human capital, assuming that the poor can reach the position they want through a competitive process. In contrast, the idea of equality of place is intertwined with the concept of decommodification and supply-side subsidies. It envisions a scenario in which markets might not ensure that people can access fundamental rights. Consequently, it suggests an alternate role for state intervention. Because some heterodox and post-Keynesian authors have identified with the principle of equality of opportunity, it is important to clarify the nature of the relationship between social policy and post-Keynesian economics. The principle of equality of place can provide a framework of social policy that is consistent with the tenets of the post-Keynesian tradition.Keywords: Post-Keynesian economicssocial policysocial justiceequality of opportunityequality of place Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 In his article, “The economics of discrimination,” Becker (Citation2010) said that discrimination should disappear because competitive market forces are incompatible with discrimination.2 For example, Post-Keynesian Richard Holt, highlighting the importance of Sen's work for Post-Keynesian economics, argues that “Sen's writings go beyond economic growth and extend to the goals of development by incorporating human capabilities. Sen's work on welfare as capabilities has led to a variety of new applications in public policy in improving lives in developing countries” (Holt Citation2016, 375). I will discuss some of these policies implemented in developing countries later.3 For Post-Keynesian Marc Lavoie, Amartya Sen is an orthodox dissenter (Lavoie Citation2022). For a definition of an orthodox dissenter, see Rochon and Rossi (Citation2023).4 It is important to clarify that Sen's welfare theory is critical of neoclassical welfare economics. See, for example, Sen (Citation1970).5 The 8-h working day, the right to maternity and paternity leave, the right to vacation, the right to pension, and unemployment insurance, among others.6 For example, starting in 2014, the Colombian government created the “Ser Pilo Paga” program to promote higher education for poor people. If poor young people do well on standardized achievement tests, they are eligible to study at the top universities of their choice. Later, the program was modified because many students were leaving universities. Now, the program is called “Generation E,” but","PeriodicalId":47197,"journal":{"name":"Journal of Post Keynesian Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135386047","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Social processes of oppression in the stratified economy and Veblenian feminist post Keynesian connections","authors":"Zdravka K. Todorova","doi":"10.1080/01603477.2023.2254504","DOIUrl":"https://doi.org/10.1080/01603477.2023.2254504","url":null,"abstract":",","PeriodicalId":47197,"journal":{"name":"Journal of Post Keynesian Economics","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43562008","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Inflation stabilization and normal utilization","authors":"Thomas R. Michl","doi":"10.1080/01603477.2023.2251464","DOIUrl":"https://doi.org/10.1080/01603477.2023.2251464","url":null,"abstract":"Abstract","PeriodicalId":47197,"journal":{"name":"Journal of Post Keynesian Economics","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42378980","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Financialization, financial assets and productive investment in Latin America: evidence from large public listed companies 1995–2015","authors":"Nicolas Hernán Zeolla, Juan E. Santarcángelo","doi":"10.1080/01603477.2023.2240761","DOIUrl":"https://doi.org/10.1080/01603477.2023.2240761","url":null,"abstract":"","PeriodicalId":47197,"journal":{"name":"Journal of Post Keynesian Economics","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42981377","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Does the Secular Stagnation hypothesis match the data? Evidence from the USA","authors":"A. Borsato","doi":"10.1080/01603477.2023.2242346","DOIUrl":"https://doi.org/10.1080/01603477.2023.2242346","url":null,"abstract":"","PeriodicalId":47197,"journal":{"name":"Journal of Post Keynesian Economics","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-08-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44787961","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Editors’ Corner","authors":"","doi":"10.1080/01603477.2023.2236533","DOIUrl":"https://doi.org/10.1080/01603477.2023.2236533","url":null,"abstract":"Published in Journal of Post Keynesian Economics (Vol. 46, No. 3, 2023)","PeriodicalId":47197,"journal":{"name":"Journal of Post Keynesian Economics","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138512540","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Public social services and sustainable development: estimating opportunities in the global south","authors":"C. Kerstenetzky, Marcio Alvarenga Junior, Lucas Costa, R. Bielschowsky","doi":"10.1080/01603477.2023.2229302","DOIUrl":"https://doi.org/10.1080/01603477.2023.2229302","url":null,"abstract":"","PeriodicalId":47197,"journal":{"name":"Journal of Post Keynesian Economics","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42136548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Shackle’s analysis of choice under uncertainty: its strengths, weaknesses and potential synergies with rival approaches","authors":"Peter E. Earl","doi":"10.1080/01603477.2023.2222705","DOIUrl":"https://doi.org/10.1080/01603477.2023.2222705","url":null,"abstract":"Abstract This paper offers a constructively critical examination of George Shackle’s theory of expectations and decision-making under uncertainty, a theory that Shackle developed because he questioned the relevance of objective probabilities as foundations for expectations. His theory is cast in terms of degrees of possibility and potential for surprise associated with disbelief that comes from imagining things that could prevent outcomes from eventuating. His idea that there may be ranges of mutually exclusive “perfectly possible” events has posed a problem for blending his thinking with the subjective probability approach, but here it is argued that this idea is flawed. Shackle’s theory of how expectations are deployed in making choices involves a reference-dependent theory of attention that results in focus on best-case and worst-case pairs of outcomes for each scheme. The paper identifies potential synergies with this idea and prospect theory and explores emotion- and satisficing-based perspectives as well as Shackle’s formal analysis of how focus outcomes are used in ranking rival schemes of action.","PeriodicalId":47197,"journal":{"name":"Journal of Post Keynesian Economics","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46142143","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"On Keynes’s probability and uncertainty","authors":"A. Carabelli","doi":"10.1080/01603477.2023.2224029","DOIUrl":"https://doi.org/10.1080/01603477.2023.2224029","url":null,"abstract":"Abstract There has been great confusion on Keynes’s notions of probability and uncertainty in recent years. Keynes believes that probability (his logical probability) is the guide of life, i.e., it is having some reasons to believe and to act. So probability is a theory of reasonable partial belief and a logic of non-demonstrative reasoning, upon which decision and action in conditions of limited knowledge, are based. (His) probability is, for Keynes, a positive, constructive, and forward-looking element of life. Limited knowledge is not a bar to decision and action. According to him, (his) probability helps us in almost all ordinary situations of life. This is the main reason why Keynes believes that ignorance and uncertainty are the two most difficult issues to tackle in life and in economics in particular. Both are related to a lack of limited knowledge. Ignorance is a lack of known reasons; Keynes writes we do not know. Keynes’s uncertainty is a much more intriguing concept than mere ignorance. Uncertainty is due to various reasons, one of them is the intrinsic incommensurability of probabilities. So, uncertainty is related to Keynes’s philosophy of measurement, a philosophy that also pervades his complex economics.","PeriodicalId":47197,"journal":{"name":"Journal of Post Keynesian Economics","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42797946","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Types of uncertainty and probability: some remarks","authors":"David Dequech","doi":"10.1080/01603477.2023.2222721","DOIUrl":"https://doi.org/10.1080/01603477.2023.2222721","url":null,"abstract":"Abstract This article comments on Donald Katzner’s “The Problem with Probability.” Professor Katzner criticizes any approach that uses probability to deal with “Knightian uncertainty.” The present article attempts to promote and improve the dialogue between proponents of different approaches to uncertainty and probability, as well as between different proponents of Post Keynesian economics. In this regard, this article highlights (a) the difference between Knightian risk and Savage’s uncertainty, (b) the acceptance into mainstream economics of approaches that go beyond both, (c) the fact that Keynes’s writings of the mid-1930s combined uncertainty with probability and weight in crucial parts of his theory, and (d) some comments on Shackle by authors in the Keynes literature. This article also intends to provide food for thought, hopefully stimulating Professor Katzner and other sympathizers of Shackle’s conception of uncertainty to reconsider the statement or the implication that uncertainty of the strongest type relevant in economic reality is synonymous with complete ignorance about the future.","PeriodicalId":47197,"journal":{"name":"Journal of Post Keynesian Economics","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41923257","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}