Marc Lavoie - Home Page

Web Name: Marc Lavoie - Home Page

WebSite: http://www.marc-lavoie.com

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Marc Lavoie

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Forthcoming

Post-keynesian Economics: New Foundations – Second Edition

The book is a considerably revised and updated version of the widely used and frequently cited 2014 edition, which won the EAEPE Myrdal Prize (now the Joan Robinson Prize).

It provides an exhaustive account of post-Keynesian theory and policy. Topics covered include its methodological foundations, consumer theory and choice under fundamental uncertainty, firms and pricing, money and credit, effective demand and employment, growth theory, open-economy issues, inflation theory.

It also links up with ecological economics.

Scholars of economics, particularly post-Keynesian and heterodox economists, will find this comprehensive look at the field a necessary addition to their libraries and students and instructors will find it a perfect text for any class on post-Keynesian economics.

Available now

Post-Keynesian Growth Theory: Selected Essays

Post-Keynesian Growth Theory is the second volume of Marc Lavoie’s Selected Essays, and is a collection of 18 articles published between 1995 and 2020, on themes touching growth and distribution. The book contains an extended foreword by Eckhard Hein, and an introduction by Lavoie that recalls how he became attracted to post-Keynesian growth theory more than 45 years ago, and explains how and why this book came about.

The collection includes a number of papers showing Lavoie’s evolving approach to neo-Kaleckian models of growth and distribution, incorporating hysteresis, overhead labour, monetary issues, price inflation, as well as various sources of autonomous non-capacity creating expenditures. It shows how all of these interact with alternative Marxian or Sraffian approaches as well.

A section of the book is also devoted to two-sector models, in particular the issue of the traverse from one equilibrium to another, extending the Kaleckian model but also providing insights into the works of Hicks and Pasinetti.

Both professors and graduate students will benefit from the decades of experience and wisdom amassed and presented in Post-Keynesian Growth Theory.

Available now

Post-Keynesian Economics: New Foundations – Chinese edition

2021 Chinese translation of the book Post-Keynesian Economics (2014), organized by Jie Meng and Hui Yuan, in two volumes.

The book is a considerably extended and fully revamped edition of the highly successful and frequently cited Foundations of Post-Keynesian Economic Analysis. It provides an exhaustive account of post-Keynesian economics and of the developments that have occurred in post-Keynesian theory and in the world economy over the last twenty years. Topics covered include open-economy issues, the methodological foundations of heterodox economics, consumer theory, firms and pricing, money and credit, effective demand and employment, inflation theory, and growth theories.

Available now

Post-Keynesian Monetary Theory: Selected Essays.

Post-Keynesian Monetary Theory recaps Marc Lavoie’s views on monetary theory over a 35-year period, seen from a post-Keynesian perspective. The book contains a collection of twenty previously published papers, as well as an introduction which explains how these papers came about and how they were received. All of the selected articles avoid mathematical formalism.

Readers will find analyses of the earlier advocates of endogenous money such as Nicholas Kaldor and Jacques Le Bourva. They will discover how the arguments in support of the post-Keynesian theory of endogenous money and the credit view of banking have evolved through this 35-year period, and how they have been related to the new procedures pursued by central banks. All these essays show the relevance of the realistic post-Keynesian monetary theory in understanding the subprime and euro crises, quantitative easing and the distributional role of interest rates.

Within these pages Marc Lavoie provides an overview of what has happened in post-Keynesian monetary economics over the last three and a half decades for students and scholars with interest in monetary economics, the horizontalist-structuralist debates and the recent history of economic thought.

‘This collection of early essays on endogenous money by Marc Lavoie (and some later ones) is of the utmost importance. Marc’s commentary on the essay about Jacques Le Bourva is pivotal – ‘… a theory … [of] … the endogeneity of money is insufficient … one also has to reject the existence of a natural rate of interest …’’
– John Smithin, York University

‘Marc Lavoie has been a leading post-Keynesian economist for a long time. This book presents a collection of important papers, published over four decades, in one of his areas of specialization, monetary theory. It contains path-breaking contributions to the theory of endogenous money and credit and to monetary policy analysis.
– Eckhard Hein, Berlin School of Economics and Law, Germany

‘This is a great collection of papers, written over four decades,displaying the many contributions which Marc Lavoie has made tothe development of Post-Keynesian monetary theory. A highlyrecommended read of Marc’s in-depth analyses of endogenous moneyand credit and contributions to policy debates.
– Malcolm Sawyer, University of Leeds, UK

Read the Foreword
Read the Introduction
See the Table of Content
See the Youtube video

Disponible

L’économie post-keynésienne

L’économie post-keynésienne fournit une grille d’analyse économique alternative. Plus qu’un simple prolongement de la pensée de John Maynard Keynes, elle contribue au renouvellement actuel de la pensée économique et des politiques économiques.

Cet ouvrage vise à présenter de manière claire et synthétique les fondements, développements et résultats post-keynésiens. Après la présentation de l’hétérodoxie post-keynésienne, il souligne l’importance des mécanismes monétaires, leurs liens avec la dynamique macroéconomique, puis traite de l’analyse de court terme (microéconomie, demande effective et marché du travail) et de celle de long terme (croissance). Il s’adresse aux étudiants désireux de découvrir l’économie post-keynésienne et ses modèles récents, comme la théorie monétaire moderne. Au-delà, il intéressera toute personne à la recherche d’éléments d’analyse permettant de mieux comprendre les défis majeurs de notre époque.

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Thème Ashe par WP Royal.

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