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Post-Keynesian economic was formed and developed by economists such as Joan Robinson and Nicholas Kaldor who believed Keynesian economics was based on disequilibrium and uncertainty, and that challenges the general equilibrium assumptions of neo-classical theory. The main aim of post-Keynesian economics is to complete the unfinished Keynesian revolution.
Post-Keynesian economists fundamentally used ideas from Keynes and his concept of effective demand, Marxist economist Michael Kalecki to provide a critique of neo-classical economics beliefs and an alternative theory of markets. These economists again emphasise uncertainty, real time and actual market conditions. They also revived the classical link between macroeconomic theories of income distribution and economic growth using Keynesian analysis.
They emphasised that the role of financial markets and rejected the quantity theory of money, preferring effective demand as the major influence on income distribution.1......
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