8th PKES Summer School – An Intro to Post-Keynesian Economics
This three-day summer school introduces Post-Keynesian Economics as an alternative to mainstream neoclassical economic theory and neoliberal economic policy. Key assumptions in Post Keynesian Economics are that individuals face fundamental uncertainty about the future; there is a central role for ‘animal spirits’ in the determination of investment decisions; inflation is the result of unresolved distributional conflicts; money is an endogenous creation of the private banking system; unemployment is determined by effective demand on the goods markets; financial markets are prone to periodic boom-bust cycles.
Post Keynesian theory is part of a broader Political Economy approach which highlights the social conflict and power relations between classes such as labour, capital and finance and social groups stratified along the lines of gender and ethnicity. Economic analysis should thus be rooted in a historic and institutional setting.
The summer school is aimed at students of economics and social sciences. As the aim of Post Keynesian Economics and Political Economy ultimately is to provide the foundation for progressive economic policies, it may be of interest for a broader audience.