Marc Lavoie is Professor in the Department of Economics at the University of Ottawa, where he has taught for 35 years. He is also a Research Fellow at the Macroeconomic Research Institute of the Hans Böckler Foundation in Düsseldorf and a Research Associate at the Broadbent Institute in Toronto. Lavoie has published close to 200 articles or book chapters in a wide variety of fields, in particular macroeconomics and monetary economics. With Wynne Godley he has written Monetary Economics: An Integrated Approach to Money, Income, Production and Wealth (2007) and with Mario Seccareccia, he has authored the Canadian edition of the Baumol and Blinder first-year textbook (2009). He has recently edited Wage-led Growth: An Equitable Strategy for Economic Recovery (2013, with E. Stockhammer), which deals with the effects of rising income inequality and the drift towards lower wage shares, and also In Defense of Post-Keynesian and Heterodox Economics (2013, with F. Lee). His latest work is Post-Keynesian Economics: New Foundations (2014), which is an exhaustive account of post-Keynesian economic analysis.
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Some Fundamental Keynesian and Post-Keynesian Insights, with an Analysis of Possible Mechanisms to Achieve a Sustained Recovery
Non-mainstream economists are disputing neoclassical ideas about capital.
Income Distribution, Rentiers and their Role in a Capitalist Economy: A Keynes-Pasinetti Perspective
This paper finds its origins in two important developments within mainstream economics since the financial crisis, both of which analyze the economy from the viewpoint of what Schumpeter (1954) referred to as the domain of “real” analysis of a modern market economy in contrast to “monetary” analysis.