ON THE COHERENCE OF POST-KEYNESIAN ECONOMICS

Recently the claim that post-Keynesianism represents a coherent altern ative to orthodox/neoclassical theory has regained favour with many le ading post-Keynesians. The purpose of this paper is to consider the ba sis for any such claim that post-Keynesianism is a coherent alternativ e. A variety of forms of coherence are considered in relation to post- Keynesian analyses and a number of shortcomings are identified. The br oad conclusion is that post-Keynesianism has not yet decided upon ifs preferred conception of coherence and consequently, cannot be regarded , at present, as an alternative school of economic thought.