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Post-Keynesian Growth Theory is a collection of 18 articles by Marc Lavoie, published between 1995 and 2020, with an extended foreword by Eckhard Hein. Marc Lavoie's introduction recalls how he became attracted to the post-Keynesian theory of growth more than 45 years ago and explains how and why this book came about.

In this article the growth models of Feldman (1928) and Mahalanobis (1953) are extended to consider the analysis of decisions of investment allocation in the context of the Post Keynesian Growth Model. By adopting this approach it is possible to introduce distributive features in the Feldman-Mahalanobis model that allows us to determine the rate of investment allocation according to the equilibrium decisions of investment and savings. Finally, an additional condition is added to the Post Keynesian Growth Model in order to fully characterise the equilibrium path in an extended version of this framework, where capital goods are also needed to produce capital goods.

In the usual format of Keynesian growth models investment
governs saving: higher investment causes more profits either through
greater capacity utilization (normal 'multiplier') or through rising
price. ('Profit inflation,) which, in turn, generates the matching level
of savings. The present paper argues that such methods of financial
higher investment plans are neither socially desirable nor even
sustainable over time In an underdeveloped mixed economy. Consequently,
alternative institutional and financial arrangements, where. crucial
role Is assigned to a public distribution system of essential goods and
profits of public enterprises, becomes imperative.

Abstract With this inquiry, we seek to develop a disaggregated version of the post-Keynesian approach to economic growth, by showing that indeed it can be treated as a particular case of the Pasinettian model of structural change and economic expansion. By relying upon vertical integration it becomes possible to carry out the analysis initiated by Kaldor (1956) and Robinson (1956, 1962), and followed by Dutt (1984), Rowthorn (1982) and later Bhaduri and Marglin (1990) in a multi-sectoral model in which demand and productivity increase at different paces in each sector. By adopting this approach it is possible to show that the structural economic dynamics is conditioned not only to patterns of evolving demand and diffusion of technological progress but also to the distributive features of the economy, which can give rise to different regimes of economic growth. Besides, we find it possible to determine the natural rate of profit that makes the mark-up rate to be constant over time.

Once again, the EMU faces an economic crisis, this time caused by the Covid-19 pandemic. To avoid the mistakes of the insufficient response to the global financial crisis, it is vital that this time the focus will turn on achieving fast, sustainable recovery, instead of contractionary measures that would hinder recovery and long-term growth. This paper briefly presents the basic elements of the Post-Keynesian / Post-Kaleckian framework of analysis for the economic regimes. The concept of the wage-led and profit-led regimes is addressed, based on which it can be assessed what kind of policies are needed in an economy to promote sustainable, long-term growth. As the relevant literature finds that the Euro Area as a whole and most of the Eurozone members are wage-led, it is concluded that the EU needs to design and implement policies that will strengthen the labor share and address the long-standing problem of unemployment. Given the need to counter climate change, the proposed policies should be coordinated and used as tool to achieve the goals set by the European Green Deal. ; Once again, the EMU faces an economic crisis, this time caused by the Covid-19 pandemic. To avoid the mistakes of the insufficient response to the global financial crisis, it is vital that this time the focus will turn on achieving fast, sustainable recovery, instead of contractionary measures that would hinder recovery and long-term growth. This paper briefly presents the basic elements of the Post-Keynesian / Post-Kaleckian framework of analysis for the economic regimes. The concept of the wage-led and profit-led regimes is addressed, based on which it can be assessed what kind of policies are needed in an economy to promote sustainable, long-term growth. As the relevant literature finds that the Euro Area as a whole and most of the Eurozone members are wage-led, it is concluded that the EU needs to design and implement policies that will strengthen the labor share and address the long-standing problem of unemployment. Given the need to counter climate change, the proposed policies should be coordinated and used as tool to achieve the goals set by the European Green Deal.