Greenwich Political Economy Research Centre

PKES Summer School

10th PKES Online Summer School – Introduction to Post Keynesian Economics and Political Economy

Tuesday 8th - Friday 11th of June 2021



This four-day online summer school introduces Post Keynesian Economics as an alternative to mainstream neoclassical economic theory and neoliberal economic policy. Key assumptions in Post Keynesian Economics are that individuals face fundamental uncertainty about the future; there is a central role for ‘animal spirits’ in the determination of investment decisions; inflation is the result of unresolved distributional conflicts; money is an endogenous creation of the private banking system; unemployment is determined by effective demand on the goods markets; financial markets are prone to periodic boom-bust cycles.

Post Keynesian theory is part of a broader Political Economy approach which highlights the social conflict and power relations between classes such as labour, capital and finance and social groups stratified along the lines of gender and ethnicity. Economic analysis should thus be rooted in a historic and institutional setting.

The summer school is aimed at students of economics and social sciences. As the aim of Post Keynesian Economics and Political Economy ultimately is to provide the foundation for progressive economic policies, it may be of interest for a broader audience.


Tuesday 8 June 2021: Introduction to Post Keynesian Economics

  • 14.00-14.15: Welcome and opening
  • 14.15-15.30: Post Keynesian Economics, Introduction & Overview  (Engelbert Stockhammer, King’s College London)
  • 15.30-15.45: Break
  • 15.45-16.45: Endogenous Money and Minsky’s Financial Instability Hypothesis (Maria Nikolaidi, University of Greenwich)
  • 16.45-17.00: Break
  • 17.00-18.00: Aggregate Demand and Inequalities - Income and Wealth distribution and Gender (Özlem Onaran, University of Greenwich)
  • 18.00-18.15: Break
  • 18.15-19.15: Concluding panel: Economic Policy after the Pandemic (Chair: Maria Nikolaidi, University of Greenwich. Speakers: Özlem Onaran, , University of Greenwich; Engelbert Stockhammer, , King’s College London; Gary Dymski, University of Leeds)

Wednesday 9 June 2021: Formal Modelling in Post Keynesian Economics

  • 14.00-15.00: Stock-flow consistent modelling and ecological macroeconomics (Yannis Dafermos, SOAS University of London)
  • 15.00-15.15 Break
  • 15.15-16.15: Complexity in New Keynesian and Heterodox Models (Jo Michell, University of the West of England)
  • 16.15-16.30: Break
  • 16.30-17.30: Endogenous Business Cycle Models (Karsten Köhler, King’s College London)

Thursday 10 June 2021: Development

  • 14.00-15.00: Development from Post Keynesian and Institutionalist perspectives (Christina Wolf, Kingston University)
  • 15.00-15.15 Break
  • 15.15-16.15: Development: Colonial Legacies. Decolonising Futures? (Glenn Lauren Moore, University of West England)
  • 16.15-16.30: Break
  • 16.30-17.30: ‘Wage-led growth’ and Development (Adam Aboobaker, University of the West of England)

Friday 11 June 2021: Topics in Post Keynesian Economics and Political Economy I

  • 14.00-15.00: The Political Economy of Income Distribution (Alexander Guschanski, University of Greenwich)
  • 15.00-15.15 Break
  • 15.15-16.15: A New Keynesian and Post Keynesian Model in a Simple Unified Framework (Rafael Wildauer, University of Greenwich)
  • 16.15-16.30: Break
  • 16.30-17.30: The financialisation of almost everything (Ewa Karwowski, Hertfordshire Business School)

Application and Booking

The summer school is free to attend. To apply please follow this link. You will be asked to submit a motivation letter outlining why you want to participate in the summer school. Places are limited and are allocated on a first-come-first-served basis, subject to a successful application. Successful applicants will receive a reading package that is expected to be studied before the summer school, so an early application is advised.

Due to the online nature of the summer school we are not able to provide certificates of participation.

Organisation and Acknowledgement

This event is co-organized by the Post-Keynesian Economics Society (PKES), the Institute of Political Economy, Governance, Finance and Accountability (PEGFA) and Rethinking Economics Greenwich. Vital support has been received from the Cambridge Political Economy Society Trust.

The organising committee consists of Rafael Wildauer and Alexander Guschanski (University of Greenwich), Christina Wolf (Kingston University); Engelbert Stockhammer (King’s College London); Jo Michell, University of the West of England, and Ines Heck, Thomas Rabensteiner and Ben Tippet, all University of Greenwich.

For further questions please contact