ABSTRACT
The Post-Keynesian and Neo-Ricardian schools of political economy developed concurrently with the rise of new left Marxian analysis and with the abandonment of textbook Keynesian treatments by mainstream economists. Although distinct in their content and focus of analysis, the Post-Keynesians and Neo-Ricardians will be examined together in this anthology. Both schools are credited with originating in Cambridge, England, and are sometimes called the "Cambridge School." This in part has to do with the overlap among the original theorists in these two schools—particularly Joan Robinson and Piero Sraffa. Of the four schools of political economic thought explored here, Post-Keynesian and Neo-Ricardian are the most recent in their intellectual roots. Post-Keynesians are indebted to Keynes's work—particularly the General Theory—and Michal Kalecki, a lesser-known economist working at the same time who developed similar ideas. Neo-Ricardian analysis began with the resurrection of Ricardo's collected works by Piero Sraffa and Sraffa's own work, Production of Commodities by Means of Commodities (1960). Both of these theories of economic activity and production are currently undergoing significant theoretical development in which the boundaries and methodologies will be better defined. The relative newness of these two schools leaves much room for development and exploration.
