The British students demanding more Keynes and Marx have been joined, predictably, by British academics -- specifically, the self-described “post Keynesians” who think that mainstream economics isn’t Keynesian enough. Listen to this radical agenda: “The post-Keynesian approach emphasizes the central importance of aggregate demand in the macro-economy, the challenges posed by financial instability in a world of globalized capital flows, the impact of inequality on economic growth, and the effect of uncertainty on expectations.”
Gosh, they’re right: mainstream macroeconomists -- not to mention journalists and policymakers -- hardly ever mention aggregate demand, do they? Nor do the standard textbooks ever talk about financial panics, inequality, or uncertainty. Indeed, as we all know, mainstream economics teaches that free markets are best, and there is no need for any government intervention, especially in the monetary system.
As I noted in the post linked above, I think the Post Keynesians are upset that the economics profession is only, say, 75% Keynesian. For them, anything less than 100% shows disrespect to the Greatest Economist.
