Keynes: The Art of Choosing the Right Model - an event in memory of Mark Hayes

Dr Matteo Iannizzotto (Durham University Business School)

Introduction and Chair: Jan Toporowski (SOAS)
Speaker: Dr Matteo Iannizzotto (Associate Professor in Macroeconomics, Durham University Business School)
Discussant: Victoria Chick (UCL)

From a research perspective, this new intellectual biography of Keynes showcases several new approaches to theoretical and policy questions. The Keynesian Cross is re-interpreted in terms of expectations and integrated with the Z-D approach; the flexible prices and supply side of Keynes’s principle of effective demand are restored to students. The Great Confusion of Loanable Funds is resolved. The book shows how government has no credit limit but does have a budget constraint. The main unfinished business from Keynes’s own thought is the reform of the international monetary system, and the book sets out a reform plan for the Euro. Discussants: Jan Toporowski (SOAS) and Victoria Chick (UCL)

Mark Hayes was a Quondam Fellow in Economics at Robinson College, Cambridge and a former Affiliated Lecturer in the Faculty of Economics at Cambridge. He was the Secretary of the Post-Keynesian Economics Society (PKES) from 2006-2016. His last book John Maynard Keynes: The Art of Choosing the Right Model, was published by Polity Press in 2019.

Organiser: Professor Jan Toporowski

Contact email: jt29@soas.ac.uk

Contact Tel: 020 7498 4737