ABSTRACT
This chapter examines the post-Keynesian economics (PKE), and also incorporates insights from critical political economy (CPE). It also explains mode of regulation and regime of accumulation as a bridge between a post-Keynesian analysis and a critical political economy approach. The chapter explains that the form of the crisis in Europe is due to the specific neoliberal policy regime which has been established in the European Union. In continental Europe neoliberalism came, at least as far as economic policy is concerned, often in the guise of European integration and European Union policies. The post-Keynesian approach has the advantage of offering an analytical framework that allows for an economic evaluation of economic policy regimes. PKE helps to highlight the macroeconomic dysfunctionality of a neoliberal mode of regulation in terms of creating a viable growth regime; moreover, with regard to the process of European integration this might lead to different appraisals of the results of neoliberal policies.
