Post-Keynesian economics

E210000

heterodox school of economic thought macroeconomic theory

Post-Keynesian economics is a heterodox school of economic thought, inspired by John Maynard Keynes and further developed by economists like Nicholas Kaldor, that emphasizes fundamental uncertainty, the role of effective demand, and the importance of institutions and income distribution in determining macroeconomic outcomes.

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All labels observed (6)

Label	Occurrences
post-Keynesian economics	3
Post-Keynesian economics canonical	1
Post-Keynesianism	1
post-Keynesian economists	1
post-Keynesian school	1
post-Keynesian synthesis	1

How this entity was disambiguated

This entity first appeared as the object of triple T1886227 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.

NED1 Entity disambiguation (via context triple) gpt-5-mini-2025-08-07

Target entity: Post-Keynesian economics
Context triple: [Nicholas Kaldor, movement, Post-Keynesian economics]

A. New Keynesian economics
New Keynesian economics is a modern macroeconomic framework that incorporates rational expectations and micro-founded price and wage rigidities to explain short-run economic fluctuations and justify active stabilization policy.
B. Keynesian economics
Keynesian economics is a macroeconomic theory that emphasizes the role of aggregate demand and government intervention in stabilizing economic fluctuations and reducing unemployment.
C. New Classical macroeconomics
New Classical macroeconomics is a school of thought that emphasizes rational expectations, market-clearing models, and the idea that systematic monetary policy has limited real effects on output and employment.
D. New Neoclassical Synthesis
The New Neoclassical Synthesis is a macroeconomic framework that blends key elements of New Keynesian and New Classical theories, using microfounded models with rational expectations and nominal rigidities to analyze monetary and fiscal policy.
E. neoclassical synthesis
The neoclassical synthesis is a mid-20th-century economic framework that blends Keynesian macroeconomics with neoclassical microeconomics to explain and guide modern mixed-market economies.
F. None of above. chosen
G. Unsure - the case is ambiguous/there is not enough information to decide.

NED2 Entity disambiguation (via description) gpt-5-mini-2025-08-07

Target entity: Post-Keynesian economics
Target entity description: Post-Keynesian economics is a heterodox school of economic thought, inspired by John Maynard Keynes and further developed by economists like Nicholas Kaldor, that emphasizes fundamental uncertainty, the role of effective demand, and the importance of institutions and income distribution in determining macroeconomic outcomes.

A. New Keynesian economics
New Keynesian economics is a modern macroeconomic framework that incorporates rational expectations and micro-founded price and wage rigidities to explain short-run economic fluctuations and justify active stabilization policy.
B. Keynesian economics
Keynesian economics is a macroeconomic theory that emphasizes the role of aggregate demand and government intervention in stabilizing economic fluctuations and reducing unemployment.
C. New Classical macroeconomics
New Classical macroeconomics is a school of thought that emphasizes rational expectations, market-clearing models, and the idea that systematic monetary policy has limited real effects on output and employment.
D. New Neoclassical Synthesis
The New Neoclassical Synthesis is a macroeconomic framework that blends key elements of New Keynesian and New Classical theories, using microfounded models with rational expectations and nominal rigidities to analyze monetary and fiscal policy.
E. neoclassical synthesis
The neoclassical synthesis is a mid-20th-century economic framework that blends Keynesian macroeconomics with neoclassical microeconomics to explain and guide modern mixed-market economies.
F. None of above. chosen

Statements (51)

Predicate	Object
instanceOf	heterodox school of economic thought ⓘ macroeconomic theory ⓘ
associatedWithConcept	Cambridge capital controversies ⓘ financial instability hypothesis ⓘ profit-led growth ⓘ stock-flow consistent modeling ⓘ wage-led growth ⓘ
associatedWithInstitution	Post-Keynesian Economics Society ⓘ
associatedWithJournal	Journal of Post Keynesian Economics ⓘ Review of Keynesian Economics ⓘ
contrastsWith	New Keynesian economics ⓘ monetarism ⓘ neoclassical economics ⓘ
developedBy	Alfred Eichner ⓘ Basil Moore ⓘ G. L. S. Shackle ⓘ Hyman Minsky ⓘ Joan Robinson ⓘ Luigi Pasinetti ⓘ Michal Kalecki ⓘ linked to: Michał Kalecki Nicholas Kaldor ⓘ Paul Davidson ⓘ Victoria Chick ⓘ
emphasizesConcept	effective demand ⓘ endogenous money ⓘ fundamental non-ergodicity of the economy ⓘ fundamental uncertainty ⓘ historical time ⓘ income distribution ⓘ non-neutrality of money ⓘ path dependence ⓘ role of institutions ⓘ
field	economics ⓘ
includesSubschool	Kaldorian growth theory ⓘ Kaleckian economics ⓘ Minskian financial instability approach ⓘ linked to: financial instability hypothesis Sraffian or neo-Ricardian strand ⓘ
inspiredBy	John Maynard Keynes ⓘ
rejectsAssumption	general equilibrium as a realistic description of the economy ⓘ natural rate of unemployment as policy-invariant ⓘ rational expectations as generally valid ⓘ representative agent ⓘ
supportsView	demand determines output in the long run ⓘ distribution affects growth ⓘ institutions shape macroeconomic outcomes ⓘ investment drives saving ⓘ money is not neutral in the long run ⓘ
timePeriodOfDevelopment	mid-20th century ⓘ
viewsFirmsAs	oligopolistic ⓘ
viewsMoneyAs	endogenous ⓘ
viewsPricesAs	administered prices ⓘ

How these facts were elicited