Polychroniou on a Post-Keynesian Political Economy for the 21st Century

Michael Stephens | March 21, 2013

In a new, wide-ranging policy note, C. J. Polychroniou traces the roots and evolution of the present “era of global neoliberalism”; an era he portrays as mired in perpetual crisis and dysfunction, and ripe for change.

[N]eoliberalism itself is more of an ideological construct than a solidly grounded theoretical approach or an empirically-derived methodology. In fact, the intellectual foundations of neoliberal discourse are couched in profusely vague claims and ahistorical terms. Notions such as “free markets,” “economic efficiency,” and “perfect competition” are so devoid of any empirical reference that they belong to a discourse on metaphysics, not economics.

Polychroniou attempts to outline the central principles of a progressive, post-Keynesian economic policy alternative.  His primary target:  changing the relationship between the state and the financial sector.

Read the policy note here.

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