The Post-Keynesian Debate

A Review of Three Recent Canadian Contributions

by Myron J. Gordon

The Post-Keynesian Debate is a review of the first three titles in the Canadian Institute for Economic Policy Series.

Economic policy in Canada has been influenced largely by the monetary-fiscal policy of John Maynard Keynes and the monetarist policy of Milton Friedman.  Both theories promise full employment without inflation, but the Canadian experience of the Seventies has been stagflation - increasing inflation with increasing unemployment.

In this paper Myron J. Gordon first provides a clear and concise analysis of the underlying assumptions and the policy implications of these two theories as well as of the post-Keynesian theory that is emerging under the leadership of John Kenneth Galbraith. 

About the Author

MYRON J. GORDON is Professor Emeritus of Finance at the School of Management at the University of Toronto.

Subjects (BISAC)

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