A Classical-Keynesian Approach to Macroeconomics: Growth, Production, and the Environment (Routledge Frontiers of Political Economy)

Presenting a robust alternative to mainstream economics, this book outlines a coherent Classical-Keynesian approach to economics - one grounded in the Classical theory of value, the Keynesian principle of effective demand, and the post-Keynesian perspective on money and finance. The chapters from an international cast list of leading authors are arranged around five key topics: the Classical theory of production, prices and income distribution; the Keynesian principle of effective demand and the supermultiplier, the Keynesian approach to monetary macroeconomics; Classical and Keynesian approaches to the history of economic thought; and Input-output analysis of structural change and environmental issues.The essays explore the dynamics of an advanced market economy, understood as a process organised according to the sequence: finance-production-distribution-spending and accumulation.It is demonstrated that in that process the economy does not gravitate around a full-employment position,