Marc Lavoie and Wynn Godley

Marc Lavoie and Wynn Godley

What was the nature of their innovation and how did it contribute to humankind? Pioneering work in stock-flow consistent non-equilibrium modelling of the economy. One of the first practical approaches to macro modelling that was not merely enhanced classical economics.

Points

Their book, Monetary Economics (2006) Presents a comprehensive description of how to model credit, money, income, production and wealth. It should -- along with Steve Keen's work be seen as a seminal contribution to twenty-first century economics.

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