Post-Keynesian Economics
Post-Keynesian Economics is a school of economic thought that builds on the ideas of John Maynard Keynes. It emphasizes the role of uncertainty, the importance of effective demand, and the influence of historical context on economic behavior. Unlike mainstream economics, it challenges the notion of markets always being efficient and highlights the significance of institutions and social factors.
This approach also critiques the use of mathematical models that assume rational behavior, arguing instead for a more realistic view of human decision-making. Post-Keynesians advocate for policies that address income inequality and promote full employment, focusing on the real-world implications of economic theories.