Keynesian Multiplier

<p>The multiplier is a central concept in Keynesian and post-Keynesian economics. It is largely what justifies activist full-employment fiscal policy: an increase in fiscal expenditures contributing to multiple rounds of spending thereby financing itself. Yet while a copingstone of post-Keynesian theory it is not universally accepted by all post-Keynesians for reasons vastly different than the mainstream. <br>This book explores both the pros and cons of the multiplier from a strictly post-Keynesian – and Kaleckian – approach. Anchored within the tradition of endogenous money this book offers a lively discussion from a number of well-known post-Keynesians from a variety of perspectives: history of thought theory and economic policy. The book starts by analysing the historical foundations of the Keynesian Multiplier and it’s treatment throughout the history of economic thought. Moving through a critical debate about the limits of the multiplier the contributions finish by offering cutting edge new views on this fascinating concept.</p><p>.</p>