Post-Keynesian economics in Germany since the 1970s: A detailed mapping of the landscape

Hein, Eckha d
Wo king Pape
Pos -Keynesian economics in Ge many since he 1970s: A
de ailed mapping o he landscape
FMM Wo king Pape , No. 116
P o ided in Coope a ion wi h:
Mac oeconomic Policy Ins i u e (IMK) a he Hans Boeckle Founda ion
Sugges ed Ci a ion: Hein, Eckha d (2025) : Pos -Keynesian economics in Ge many since he 1970s:
A de ailed mapping o he landscape, FMM Wo king Pape , No. 116, Hans-Böckle -S i ung,
Mac oeconomic Policy Ins i u e (IMK), Fo um o Mac oeconomics and Mac oeconomic Policies
(FMM), Düsseldo
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FMM WORKING PAPER
No. 116 • Ap il 2025 • Hans-Böckle -S i ung
POST
-KEYNESIAN ECONOMICS
IN GERMANY SINCE THE 1970S
–
A DETAILED MAPPING OF THE
LANDSCAPE
Eckha d Hein
1
ABSTRACT
This pape maps he in ellec ual and ins i u ional landscape o pos -Keynesian economics in
Ge many since he 1970s. I e iews he con ibu ions o academics based in Ge many,
i espec i e o hei na ionali y, o pos -Keynesian economics iewed om a b oad en
pe spec i e and o he di e en s ands wi hin his b oad- en pos -Keynesian economics.
The ocus is on he con ibu ions and i is no implied ha he au ho s conside hemsel es o
be pos -Keynesians o o adhe e o some o he di e en s ands o pos -Keynesian
economics. Based on he assessmen o he con ibu ions, some ligh is shed on he
ins i u ional de elopmen o pos -Keynesian esea ch and eaching in Ge man highe
educa ion, on academic associa ions, ne wo ks, and ins i u es, as well as on academic
jou nals and publishe s open o pos -Keynesian esea ch in Ge many. I is concluded ha
he gene a ional ansi ion, associa ed wi h he e i emen o hose esea che s who go in o
he uni e si y sec o in he 1970s and 1980s, has been managed wi h ela i e success and
pos -Keynesian economics has been consolida ed, albei a a low le el, and ha i emains
an emba led mino i y in Ge many.
—————————
1 Ins i u e o In e na ional Poli ical Economy (IPE), Be lin School o Economics and Law,
email: eckha d.hein@hw -be lin.de
1
Pos -Keynesian economics in Ge many since he 1970s – a de ailed mapping o he
landscape
Eckha d Hein
Ins i u e o In e na ional Poli ical Economy (IPE), Be lin School o Economics and Law
ORCID: h ps://o cid.o g/0000-0002-6542-6630
Abs ac
This pape maps he in ellec ual and ins i u ional landscape o pos -Keynesian economics in
Ge many since he 1970s. I e iews he con ibu ions o academics based in Ge many,
i espec i e o hei na ionali y, o pos -Keynesian economics iewed om a b oad en
pe spec i e and o he di e en s ands wi hin his b oad- en pos -Keynesian economics. The
ocus is on he con ibu ions and i is no implied ha he au ho s conside hemsel es o be
pos -Keynesians o o adhe e o some o he di e en s ands o pos -Keynesian economics.
Based on he assessmen o he con ibu ions, some ligh is shed on he ins i u ional
de elopmen o pos -Keynesian esea ch and eaching in Ge man highe educa ion, on
academic associa ions, ne wo ks, and ins i u es, as well as on academic jou nals and
publishe s open o pos -Keynesian esea ch in Ge many. I is concluded ha he gene a ional
ansi ion, associa ed wi h he e i emen o hose esea che s who go in o he uni e si y
sec o in he 1970s and 1980s, has been managed wi h ela i e success and pos -Keynesian
economics has been consolida ed, albei a a low le el, and ha i emains an emba led
mino i y in Ge many.
JEL code: B22, B25, E12
Key wo ds: pos -Keynesian economics, Ge many, his o y o economics
Acknowledgmen s
This is an ex ended e sion o a pape o hcoming in he Re iew o Poli ical Economy (RoPE).
Fo esea ch assis ance, I am g a e ul o Ca a Dab owski, Samuel Küppe s, and Leo P ima esi.
I ha e bene i ed om discussions wi h Ha ald Hagemann, Hagen K äme and Jan P iewe, and
om he commen s on my p esen a ion o a p elimina y e sion o his pape a he 28 h
con e ence o he Fo um o Mac oeconomics and Mac oeconomic Policies (FMM) in Oc obe
2024 in Be lin. I am also g a e ul o commen s by wo anonymous e e ees o RoPE. O cou se,
emaining e o s a e exclusi ely my own, as usual.
Con ac
P o . D . Eckha d Hein
Be lin School o Economics and Law
Badensche S . 52
10825 Be lin
Ge many
e-mail: [email p o ec ed]
2
1. In oduc ion
O e he ecen decades, pos -Keynesian economics has de eloped as leading school o
hough in he e odox economics, in pa icula in he e odox mac oeconomics. Se e al
ex books o ex book-like monog aphs ha e been published in he ecen yea s, summa ising
he s a e o he a s o his school (Hein 2014, 2023a, Blecke and Se e ield 2019, La oie
2022). While some o hese books also de o e some chap e o he his o y o pos -Keynesian
economics, a ew monog aphs (King 2003, Ha cou 2006, Pasine i 2007) and ecen pape s
(Lee 2002, Ke 2005, Rochon 2023) ha e exclusi ely discussed he his o y o his school o
hough . Howe e , he ocus o hese con ibu ions has been mainly on he de elopmen in
he UK and he USA, wi h li le a en ion o o he coun ies.
1
Rega ding Ge many, he e a e
only a ew sho publica ions on he in ellec ual and ins i u ional de elopmen o (pos -)
Keynesian economics in his coun y in gene al, like Niechoj (2012) and Hagemann (2019), o
on speci ic ne wo ks based in Ge many wi h pos -Keynesian pa icipa ion, like he Fo um o
Mac oeconomics and Mac oeconomic Policies (FMM) (Hein and P iewe 2009, Geche e al.
2017), he Ge man Keynes Socie y (Keynes Gesellscha ) (K ompha d 2005), o he Ge man
Associa ion o Poli ical Economy (A bei sk eis Poli ische Ökonomie) (Hödl 1988).
As Hagemann (2019) summa ised, Keynes’s wo k on mac oeconomics and economic
policies, s a ing wi h his Economic Consequences o he Peace (Keynes 1919), his con ibu ion
o he Spie ho Fes sch i ou lining his new esea ch p og amme o a mone a y heo y o
p oduc ion (Keynes 1933), and inally his Gene al Theo y (Keynes 1936), we e well ecei ed
and discussed in Ge man academics in he 1920s and ea ly 1930s, wi hou ha ing a di ec
impac on mac oeconomic policies.
2
When he Nazis came o powe in 1933, his discussion
was ma ginalised owa ds Ge man emig an s. A e wo ld wa II hen, economics a Ge man
uni e si ies was domina ed by he neoclassical syn hesis, as p esen ed in he ex books o
E ich Schneide (1946, 1948, 1952), o example.
3
In economic policies, Ge man o do-
libe alism, he F eibu g School (Eucken 1965), domina ed in he conse a i e (CDU-led)
go e nmen s o he 1950s and 1960s, ocussing on compe i ion polices, s able in la ion, and
edis ibu ion h ough wel a e s a e policies o social accep ance, laying he concep ual
ounda ions o he Ge man ‘social ma ke economy’.
4
In he ecession 1966-67, howe e , he
neoclassical syn hesis, including coun e -cyclical iscal policies as key economic policy
elemen , became e ec i e wi h he passing o he S abili y and G ow h Ac unde he g and
coali ion go e nmen o conse a i es (CDU/CSU) and social democ a s (SPD), wi h economics
minis e (and la e economics and inance minis e ) Ka l Schille . Howe e , wi h he s ag la ion
c isis in he mid-1970s, his sho -li ed pe iod o sho - un Keynesian s abilisa ion policies,
since 1969 unde a social democ a ic-led go e nmen wi h he libe als (SPD-FDP), e mina ed.
I was eplaced by mone a is supply-side app oaches domina ing since he ea ly 1980s, in
1
King (2003, chap. 7) has a leas a ew pages each on he his o y o pos -Keynesian economics in Aus alia,
Aus ia, Canada, F ance and I aly.
2
Mo e de ailed assessmen s and ma e ial o he economic policy deba e in Ge many o he la e 1920s/ea ly
1930s can be ound in Bombach e al. (1976a, 1976b, 1981).
3
E en he Ge man ade union publishing house published a Ge man ansla ion o Samuelson’s economics
ex book (Samuelson 1981) – which was also he i s economics ex book I bough in he mid 1980s!
4
On he Ge man economic his o y om 1945-1980, see Abelshause (1983).
3
pa icula when he conse a i es ook o e go e nmen again in 1982 wi h he libe als
(CDU/CSU-FDP), howe e in a mo e modes way han in he US (Reagan) and he UK
(Tha che ). While Ge man e-uni ica ion in 1990 and he ollowing massi e ans e s owa ds
he new ede al s a es in he eas gene a ed a sho - un Keynesian- ype demand boom, his
policy app oach did no undamen ally change. This is also ue o he pe iod a e he
in oduc ion o he eu o in 1999 and he new social democ a ic-g een (SPD-G üne)
go e nmen (1998-2005), which con inued he supply-side o ien a ion o economic policies.
This was hen ein o ced by he Maas ich egime, la gely ollowing new consensus
mac oeconomics (NCM), wi h an independen cen al bank o he Eu ozone as a whole
ocussing on p ice s abili y i s , highly es ic ed iscal policies o membe coun ies
coo dina ed by he S abili y and G ow h Pac , and labou ma ke policies ocussed on educing
he NAIRU by means o s uc u al e o ms.
5
This policy app oach suppo ing he Ge man
expo -led me can ilis demand and g ow h egime,
6
also domina ed wi h he ollowing
go e nmen s, ei he g and coali ion (CDU/CSU-SPD, 2005-9, 2013-21), conse a i e-libe al
(CDU/CSU-FDP, 2009-13), o social democ a ic-g een-libe al (SPD-G üne-FDP, 2021-24). While
he s agna ion c isis o he ea ly 2000s was p olonged and in ensi ied by es ic i e
mac oeconomic policies, and iscal policies in pa icula (Hein and T uge 2005a), he Global
Financial C isis and he G ea Recession (2007-09), as well as he Co id 19 c isis (2020) ha e
seen expansiona y iscal policies in he neoclassical syn hesis ein igh ing he deep
ecessions. Howe e , hose we e ollowed by a emp s a iscal consolida ion a e he c isis
again, including he in oduc ion o he in amous Ge man ‘deb b ake’ in 2009 (Hein and
De ze 2016, Hein 2024a).
Agains his backg ound, he e odox o pos -Keynesian economics ha e no played any ole
in Ge man uni e si ies o economic policies du ing he 1950s and 1960s, when he
neoclassical syn hesis and o do-libe alism domina ed. Only a ew p o esso s we e pu suing
al e na i e app oaches, o we e a leas open o hem, like E ich P eise in Heidelbe g and
Munich (P eise 1967, 1970, 1992, Schmid 1998), Albe Jeck in Kiel (Jeck 1970), Wol gang
S ü zel in Saa b ücken (S ü zel 1978, 2017, Elle mann e al. 2017), o We ne Ho mann in
Gö ingen and Ma bu g (Ho mann 1971, 1987a, 1987b, Schui 1987), a he la e uni e si y,
howe e , in sociology. Only wi h he e o m and expansion o he uni e si y sec o in he
1970s, he e was a window o oppo uni y o he e odox schola s o be appoin ed as
uni e si y p o esso s, in pa icula a newly es ablished ‘ e o m uni e si ies’. Howe e , wi h
he e i emen wa e since he ea ly 2000s o hose he e odox p o esso s hi ed in he 1970s,
he e odox economics, and e en neoclassical syn hesis mains eam Keynesian economics,
ha e aced he p essu e o disappea om Ge man uni e si ies.
7
The e o e, his pape aims a p o iding an in ellec ual and ins i u ional landscape o pos -
Keynesian economics in Ge many om he 1970s un il ecen ly. I will hus ill a gap in he
5
On he Maas ich egime and he NCM, see A es is and Sawye (2011) and Hein (2013), o example.
6
On he Ge man demand and g ow h egime and he espec i e mac oeconomic policy egime, see Hein and
Ma schin (2021).
7
See Heise e al. (2017) o an accoun o he ise and he decline o he e odox economics in gene al a Ge man
uni e si ies since he ea ly 1970s.

4
in e na ional li e a u e on he his o y o pos -Keynesian economics. The ocus will be on he
con ibu ions o Ge man o Ge many-based au ho s, i espec i e o hei na ionali y, o pos -
Keynesian esea ch iewed om a ‘b oad en ’ pe spec i e (Hein and La oie 2019, La oie
2022, chap. 1, Hein 2023a, chap. 2) and o he di e en s ands wi hin his b oad- en pos -
Keynesian economics.
8
The ocus will be on he scien i ic con ibu ions and i is no implied
ha he espec i e au ho s will always conside hemsel es o be pos -Keynesians o o
adhe e o some o he di e en s ands o pos -Keynesian economics. In ac , some o hem
may p e e o be seen as ‘(applied) mac oeconomis s’ o as ‘Keynesian economis s’ wi hou
being associa ed wi h pos -Keynesian economics. The e o e, when we include hei esea ch
in o pos -Keynesian economics o in o any s and o pos -Keynesian economics, his is
acco ding o ou c i e ia and he au ho s may no necessa ily ag ee wi h hese classi ica ions.
9
Based on ou assessmen o pos -Keynesian wo k ‘made in Ge many’ in his way, we will hen
also shed some ligh on he ins i u ional de elopmen o pos -Keynesian esea ch and
eaching a Ge man uni e si ies and he es ablishmen o academic associa ions and
ne wo ks, ins i u es and academic jou nals, which a e open o pos -Keynesian economics.
The pape p oceeds as ollows. In Sec ion 2, he main ea u es and he di e en s ands o
pos -Keynesian economics in gene al a e ecapi ula ed applying a ‘b oad en ’ app oach,
which hen allows us o assess he wo k o au ho s based in Ge many in Sec ion 3. In his
con ex he di e en s ands o pos -Keynesian economics a e somewha modi ied and
applied o he con ibu ions o academic economis s based in Ge many. Ha ing iden i ied
pos -Keynesian wo k ‘made in Ge many’ acco ding o ou c i e ia, Sec ion 4 hen u ns o he
ins i u ional de elopmen o so-de ined pos -Keynesian economics in his coun y. I ouches
upon he de elopmen o uni e si y depa men s and p og ammes wi h ele an pos -
Keynesian esea ch and eaching and a ex book published by au ho s con ibu ing o pos -
Keynesian economics. Fu he mo e, i e iews economic councils, esea ch ins i u es,
associa ions and ne wo ks wi h ele an pos -Keynesian con ibu ions, and i looks a jou nals
and publishe s based in Ge many, which a e open o pos -Keynesian economics. Sec ion 5
summa ises and concludes.
2. Main ea u es and s ands o pos -Keynesian economics in gene al
Following La oie (2022, chap. 1) and Hein (2023a, chap. 2), we apply he 10 main ea u es o
pos -Keynesian economics summa ised in Table 1 in o de o iden i y pos -Keynesian wo k.
8
We will only selec i ely include he wo k o Ge man emig an s who ha e con ibu ed o pos -Keynesian wo k,
like Jö g Bibow (Skidmo e College, US), Thomas Goda (AFIT Uni e si y Medellin, Colombia), Alexande Guschanski
(Uni e si y G eenwich, UK), Jens Hoelsche (Bou nemou h, UK), Al ed Kleinknech (Technical Uni e si y Del ,
Ne he lands), Ka s en Kohle (Uni e si y Leeds, UK), Sophia Kuehnlenz (Manches e Me opoli an Uni e si y,
UK), Heinz D. Ku z (Uni e si y G az, Aus ia), Wal aud Schelkle (Eu opean Uni e si y Ins i u e, San Domenico di
Fiesole, I aly), Enno Sch öde (Technical Uni e si y Del , Ne he lands), Willi Semmle (New School o Social
Resea ch, New Yo k, US), o Isabella Webe (Uni e si y o Massachuse s, Amhe s , US). Only he wo k o hose
who ha e spen a majo pa o hei academic ca ee in he Ge man academic sec o will be included, wi hou
s ic ly conside ing when and whe e he wo k was p oduced.
9
Gene ally, we will only e e o he wo k o senio esea che s a Ge man uni e si ies and uni e si ies o applied
sciences wi h only a ew excep ions. The wo k o PhD s uden s and junio esea che s is only conside ed i co-
au ho ed by senio esea che s in o de o a oid p e-ma u e iden i ica ion wi h pos -Keynesian economics.
5
These include he i e p e-supposi ions, which pos -Keynesian economics has in common wi h
o he he e odox schools o hough in economics and which dis inguish hese schools om
o hodox economics, and ano he i e co e claims which a e hen speci ic o pos -Keynesian
economics.
Table 1: Ten main ea u es o pos -Keynesian economics
Fi e p esupposi ions
Fi e co e claims
1. Epis emology/On ology: ealism
6. Non-neu ali y o money in he sho and in
he long un
2. Ra ionali y: en i onmen consis en
a ionali y and sa is icing agen s
7. P inciple o e ec i e demand in he sho and
in he long un
3. Me hod: holism and o ganicism
8. Fundamen al unce ain y
4. Economic co e: p oduc ion and g ow h
9. His o ical and i e e sible ime, pa h
dependence
5. Poli ical co e: egula ed ma ke s
10. Dis ibu ion con lic
Sou ce: (Hein 2023a, p. 14)
Di e en s ands in pos -Keynesian economics ha e been assessed since Hamouda and
Ha cou (1988), as e iewed by La oie (2022, chap. 1). He e we will ollow he dis inc ion
p oposed by La oie (2022, p. 45) and also used by Hein (2023a, pp. 11–12):
 The i s s and is ep esen ed by he undamen alis pos -Keynesians, di ec ly
inspi ed by John Mayna d Keynes, he olde Joan Robinson, as well as Paul Da idson,
Hyman Minsky, G.L.S. Shackle, and Sydney Wein aub. Majo hemes a e
undamen al unce ain y, he ea u es o a mone a y p oduc ion economy, inancial
ins abili y, and me hodological issues.
 The Kaleckians a e he second s and, d awing on he wo ks o Michal Kalecki, Jose
S eindl, and he younge Joan Robinson, wi h cos -plus p icing, class con lic , e ec i e
demand, income dis ibu ion and g ow h as majo hemes.
 The hi d s and consis s o he Kaldo ians, basing hei wo ks on he con ibu ions
by Nicholas Kaldo , An hony Thi lwall, Roy F. Ha od, Richa d Goodwin, John
Co nwall, and Wynne Godley. The majo hemes a e economic g ow h, p oduc i i y
egimes, s uc u al change, open economy cons ain s o g ow h, and he nexus
be ween he economic and he inancial sys em.
 The S a ians o neo-Rica dians cons i u e he ou h s and, d awing on he wo ks o
Pie o S a a and Pie angelo Ga egnani, and ocussing on issues like ela i e p ices in
mul i-sec o al p oduc ion sys ems, choice o echniques, capi al heo y, long-pe iod
equilib ium posi ions o he economy, and ecen ly also on au onomous demand
d i en g ow h.
 The i h s and a e he ins i u ionalis s, elying on he wo ks o Tho s ein Veblen,
Ga dine Means, P.W.S And ews, John Kenne h Galb ai h, Abba Le ne , and Al ed
Eichne , and concen a ing on hemes like p icing, he heo y o he i m, mone a y
ins i u ions, beha iou al and labou economics.
6
All hese i e s ands sha e he en main ea u es o pos -Keynesian economics as p esen ed
in Table 1. We will use a sligh ly modi ied dis inc ion in he nex sec ion in o de o s uc u e
ou p esen a ion o pos -Keynesian esea ch made in Ge many, on he one hand, and o
acili a e he unde s anding o he ela ionships o Ge man con ibu ions o he in e na ional
discussion in pos -Keynesian economics, on he o he hand.
3. Pos -Keynesian economics made in Ge many: con ibu ions o he di e en s ands
As poin ed ou in he in oduc ion, when assessing he con ibu ions o Ge many-based
au ho s o pos -Keynesian economics and i s di e en s ands, he ocus will be on he
scien i ic wo k and no on he au ho s as such. Fu he mo e some au ho s ha e con ibu ed
o di e en s ands, as will be seen below. Finally, we somewha modi y he s ands
men ioned in Sec ion 2 by including a s and wo king on o making use o Ma x-Keynes
connec ions. Fu he , he ins i u ionalis s and is ex ended o include hyb id economic policy
wo k. In pa icula his s and con ains some wo k which may also be iewed as c i ical o
dissen ing mains eam con ibu ions, which sha e b oad simila i ies wi h pos -Keynesian
pe spec i es when i comes o sho - and long- un economic policy implica ions.
3.1 Con ibu ions o he undamen alis pos -Keynesian s and
A speci ically Ge man e sion o he pos -Keynesian undamen alis s and is he Be lin
mone a y Keynesian school based on he wo ks by Hajo Riese (1983, 1986, 1987, 2001,
2004).
10
Di e en om he in e na ional Da idson/Wein aub undamen alis s and, wi h i s
ocus on unce ain y and i s ejec ion o equilib ium economics (Da idson 2011), Riese a gued
ha an al e na i e o he neoclassical pa adigm equi es an equilib ium model wi h a e e sed
hie a chy o ma ke s. Whe eas in he neoclassical eal exchange pa adigm, he labou ma ke
de e mining he ull employmen equilib ium is a he op, in he mone a y Keynesian
app oach he money and c edi ma ke s a e i s , ollowed by he goods ma ke and inally he
labou ma ke . Liquidi y p e e ence does no de e mine money demand bu c edi supply, and
he a e o in e es as a mone a y phenomenon is gi en by he liquidi y p emium o money,
in an endogenous money amewo k. Unemploymen is an equilib ium ea u e o he sys em,
equi ed o main ain a cons an p ice le el o cons an in la ion. Economic policies ha e o
accep hese cons ain s and he cen al bank and he s a e ha e o ac as ‘ma ke
pa icipan s’.
A a ian o his app oach has been p esen ed by Heinsohn’s and S eige ’s (1984, 1996,
2006) concep o he p ope y p emium explaining he a e o in e es .
11
P ope y owne ship
implies he abili y o colla e alise asse s o c edi , enabling lende s o cha ge a p emium
(in e es ) as compensa ion o elinquishing liquidi y and assuming isk. In e es hus eme ges
as a sys emic ou come o p ope y-based economies, dis inc om ba e sys ems.
Riese’s mone a y Keynesian app oach has also been aken o he in e na ional le el. The
concep o a cu ency hie a chy and a cu ency p emium explain in e na ional in e es a e
10
Fo a sho summa y, see F i sche (2022). Fo u he p esen a ions and ex ensions, see He (2009, 2014a)
and Heise (2009, 2019), o example.
11
See also S ade mann and S eige (2006a, 2006b), S eige (2006), and Heinsohn e al. (2013).
7
di e en ials, because a low cu ency p emium has o be compensa ed by a highe in e es
a e in o de o s abilise he exchange a e (He 1992, Ni sch 1995, 1999, Me zge 2003, 2006,
De Paula e al. 2017, F i z e al. 2018, He and Ne eko en 2022, P iewe 2022a). A low
cu ency p emium hence u ns in o a mone a y cons ain o economic de elopmen .
The mone a y Keynesian pe spec i e has been used o analyse mac oeconomic policy
egimes, ha is he in e play o mone a y, iscal and wage/incomes policy agains he
backg ound o he in e na ional con ex , as o example by Heine e al. (2006) and He and
Kazandziska (2011) o ad anced capi alis economies and by P iewe and He (2005) o
eme ging economies. S udies on cen al banks and hei policies include con ibu ions by
Spahn (2001, 2007) on cen al banking in gene al, by He (2014b) and Heine and He (2021a)
on he Eu opean Cen al Bank (ECB), and by Spahn (1988) on he Deu sche Bundesbank. The
p oblems o Eu opean economic and mone a y in eg a ion and he ela ed mac oeconomic
policies ha e been assessed by Thomasbe ge (1993), S ade mann (2014), Heise (2015), and
Heine and He (2021b), o example. Heine and He (2024) ha e ecen ly also p o ided an
analysis o se e al in la ion episodes in ad anced capi alis economies om a mone a y
Keynesian pe spec i e.
Al hough no pa o he mone a y Keynesian app oach, also he wo k by Amb osi (1981,
2003) on Keynes’s employmen unc ion and by Ha wig (2006, 2007, 2017) on Keynes’s
p inciple o e ec i e demand belong o he undamen alis s and o pos -Keynesian
economics. The same holds ue o Ba ens’s (1987, 1997) wo k on money and unemploymen
in Keynes and his assessmen o Hicks’s IS-LM model as a ep esen a ion o Keynes’s app oach,
he la e also oge he wi h Caspa i (Ba ens and Caspa i 1999), as well as o Bibow’s (1995)
wo k on he inance mo i e o money demand in Keynes’s wo k.
3.2 Con ibu ions o he Kaleckian pos -Keynesian s and
Au ho s based in Ge many ha e con ibu ed o se e al a eas wi hin he Kaleckian s and o
pos -Keynesian economics. This includes he examina ion o Bowley’s law o a long- un
cons ancy o unc ional income sha e om he pe spec i e o Kalecki’s heo y o unc ional
income dis ibu ion (K äme 1996, 2011), as well as he applica ion o Kalecki’s dis ibu ion
heo y o he ecen pe iod o inance-domina ed capi alism (Hein 2015), wi h espec i e
empi ical applica ions (Dünhaup 2017, Hein e al. 2017, 2018, Dünhaup and Hein 2019).
In his s and, we also ha e he con ibu ions o he empi ical assessmen o wage-/p o i -
led demand and g ow h egimes (Hein and K äme 1997, Hein and Vogel 2008, 2009, Ha wig
2013, 2014, Woodga e 2022, Damme e e al. 2024) based on he heo e ical model by
Bhadu i and Ma glin (1990) and Ku z (1990, chap. 10), as well as o he inclusion o he
dis ibu ional e ec s on p oduc i i y g ow h and hence on he long- un o e all egime (Hein
and Ta assow 2010, Ha wig 2013, 2014).
The explici conside a ion o money, c edi and a mone a y in e es a e in Kaleckian
dis ibu ion and g ow h models has been ano he majo opic (Hein 2007, 2008), including he
empi ical assessmen o he e ec o in e es a e changes in hese models (Hein and Ochsen
2003, Hein and Schode 2011). Kaleckian dis ibu ion and g ow h models ha e been ex ended
o include he main mac oeconomic ea u es o ‘ inancialisa ion’ o inance-domina ed
14
o pos -Keynesian esea ch a he Uni e si y B emen anished.
13
Howe e , a he HTW Be lin,
he gene a ional ansi ion was success ully mas e ed, and his uni e si y o applied sciences
is cu en ly (ea ly 2025) s ill a cen e o pos -Keynesian esea ch in he b oade sense. A new
cen e has eme ged a he Uni e si y o Duisbu g-Essen wi h he Ins i u e o Socio-Economics
ounded in 2017. Fu he mo e, he e a e a ew places wi h a leas wo p o esso s in pos -
Keynesian esea ch, like he Be lin School o Economics and Law (HWR Be lin), he Uni e si y
o Technology Chemni z, he Depa men o Socioeconomics a he Uni e si y o Hambu g,
and he Uni e si y o Applied Sciences Ka ls uhe.
When i comes o g adua e s udies, we cu en ly ind plu alis Mas e p og ammes wi h
some pos -Keynesian con en s a hese uni e si ies. These include he Mas e In e na ional
and De elopmen Economics
14
a HTW Be lin, he Mas e In e na ional Economics
15
a he
Be lin School o Economics and Law, which has pa icipa ed in se e al E asmus Mundus
Mas e s, cu en ly in he Mas e Economic Policies o he Global Bi u ca ion (EPOG-JM)
16
, he
Mas e Economics
17
a he Uni e si y o Technology Chemni z, he Mas e o Socio-
Economics
18
a he Uni e si y Duisbu g Essen, and he Mas e Labou , Economy and Socie y
19
a he Uni e si y Hambu g. Fu he mo e, he e a e some doc o al p og ammes unded by he
Hans Böckle Founda ion (Hans Böckle S i ung, HBS), like ‘Bounded Ra ionali y,
He e ogenei y and Ne wo k E ec s’
20
a he Uni e si y o Bambe g, ‘Finance and Inequali y in
Times o Polyc isis (EQALFIN)’
21
a he F ee Uni e si y Be lin in coope a ion wi h HTW Be lin,
and ‘Poli ical Economy o Inequali y’
22
a he Ins i u e o Socio-Economics o he Uni e si y
Duisbu g-Essen. O cou se, he e ha e also been se e al PhD s uden s wo king wi h p o esso s
con ibu ing o pos -Keynesian economics independen ly o hese unded doc o al
p og ammes, a uni e si ies o applied sciences usually in coope a ion wi h some domes ic o
o eign uni e si y.
23
13
Fo a case s udy on he decline o he e odox economics including pos -Keynesian economics a he Uni e si y
o B emen, see Heise e al. (2017, chap. 5).
14
Mo e on he Mas e In e na ional and De elopmen Economics a HTW Be lin can be ound he e:
h ps://mide.h w-be lin.de/ (10.1.2025).
15
Mo e on he Mas e In e na ional Economics a he Be lin School o Economics and Law can be ound he e:
h ps://www.hw -be lin.de/en/s udy/deg ee-p og ammes/de ail/23-in e na ional-economics/ (10.1.2025).
16
Mo e on he E asmus Mundus Mas e Economic Policies o he Global Bi u ca ion (EPOG-JM) can be ound
he e: h ps://www.epog.eu/ (10.1.2025).
17
Mo e on he Mas e Economics a he Uni e si y o Technology Chemni z can be ound he e: h ps://www. u-
chemni z.de/wi scha /s udium/mas e /eco/ (10.1.2025).
18
Mo e on he Mas e Socio-Economics a he Uni e si y Duisbu g-Essen can be ound he e: h ps://www.uni-
due.de/soziooekonomie/mas e _en (10.1.2025).
19
Mo e on he Mas e Labou , Economy and Socie y a he Uni e si y Hambu g can be ound he e
h ps://www.wiso.uni-hambu g.de/en/s udienbue o-sozialoekonomie/s udiengaenge/ma-awg.h ml
(10.1.2025).
20
Mo e on he doc o al p og amme ‘Bounded Ra ionali y, He e ogenei y and Ne wo k E ec s’ a he Uni e si y
Bambe g is p o ided he e: h ps://www.uni-bambe g.de/en/econ- g/ (10.1.2025).
21
Mo e on he doc o al p og amme ‘Finance and Inequali y in Times o Polyc isis (EQALFIN)’ a he F ee
Uni e si y Be lin and HTW Be lin is p o ided he e: h ps://www.equal in.de/ (10.1.2025).
22
Mo e on he doc o al p og amme ‘Poli ical Economy o Inequali y’ a he Uni e si y Duisbu g-Essen is p o ided
he e: h ps://www.uni-due.de/soziooekonomie/p omo ionskolleg_en (10.1.2025).
23
Fo example, se e al PhD s uden s a he Be lin School o Economics and Law (HWR Be lin) in he a ea o pos -
Keynesian economics ha e been doing hei PhD in coope a ion wi h he Uni e si e So bonne Pa is No d. They

15
Table 2: P o esso s wi h pos -Keynesian wo k a Ge man uni e si ies and uni e si ies
applied sciences since ea ly 1970s and cu en g adua e p og ammes
Uni e si y
P o esso s
con ibu ing o
pos -Keynesian
wo k
Pe iod
Cu en (2025) plu alis /he e odox
g adua e p og ammes wi h some
pos -Keynesian con en s
TU Aachen
Zinn
1970-2004
U Bambe g
P oano
Since 2015
HBS unded Doc o al P og amme
‘Bounded Ra ionali y, He e ogenei y
and Ne wo k E ec s’
FC Be lin
Woodga e
Since 2023
FU Be lin
Riese
1971-2001
HBS unded Doc o al P og amme
wi h HTW Be lin ‘Finance and
Inequali y in Times o Polyc isis
(EQALFIN)’
Ni sch
1977-2005
Flaschel
1980-1985
F i z
Since 2005
(FHTW) HTW Be lin
P iewe
1993-2014
Mas e In e na ional and
De elopmen Economics (MIDE)
HBS unded Doc o al P og amme
wi h FU Be lin ‘Finance and
Inequali y in Times o Polyc isis
(EQALFIN)’
Heine
1994-2015
Thomasbe ge
1994-2017
E ans
2003-2006
Dullien
Since 2007
Joebges
Since 2010
Logeay
Since 2010
Lindne
Since 2019
(FHW) HWR Be lin
S ade mann
1984-2007
Mas e In e na ional Economics
(MIE)
E asmus Mundus Mas e Economic
Policies o he Global Bi u ca ion
(EPOG-JM)
He
1994-2016
E ans
2006-2015
Hein
Since 2009
T uge
2012-2019
Me zge
Since 2014
TU Be lin
K ompha d
1980-2001
U Biele eld
Flaschel
1985-2021
Semmle
1997-2007
UAS B andenbu g
Ta assow
Since 2023
U B emen
Hickel
1971-2010
Lei häuse
1972-2000
Hu schmid
1973-2005
S eige
1973-2004
Schui
1974-1980
Kalmbach
1975-2005
Ku z
1979-1988
Hagemann
1982-1988
TU Chemni z
Helmedag
1993-2019
Mas e Economics
Ha wig
Since 2016
Geche
Since 2021
ha e been wo king and collabo a ing wi hin he ‘G ow h Regime Wo king G oup’ o he Ins i u e o In e na ional
Poli ical Economy (IPE) o he Be lin School o Economics and Law (h ps://www.ipe-
be lin.o g/en/ esea ch/ inancialisa ion-mac oeconomics-and-economic-policies/g ow h- egime-wo king-
g oup-g wg-o - he-ipe-be lin/, 10.1.2025).
16
Table 2 con inued: P o esso s wi h pos -Keynesian wo k a Ge man uni e si ies and
uni e si ies applied sciences since ea ly 1970s and cu en g adua e p og ammes
Uni e si y
P o esso s
con ibu ing o
pos -Keynesian
wo k
Pe iod
Cu en (2025) plu alis /he e odox
g adua e p og ammes wi h some
pos -Keynesian con en s
TU Da ms ad
Caspa i
1995-2019
Ba ens
1999-2018
UAS Da ms ad
P iewe
1982-1993
U Duisbu g-Essen
Ho n
2012-2019
Mas e Socioeconomics
HBS unded Doc o al P og amme
‘Poli ical Economy o Inequali y’
an T eeck
Since 2013
Kapelle
Since 2019
Rehm
Since 2019
T uge
Since 2019
U F ank u
Sche old
1974-2012
U F eibu g
Obe hause
1962-1995
U Giessen
K ompha d
1968-1980
Sche
1996-2022
(HWP) U Hambu g
Schui
1980-2005
Mas e Labou , Economy and Socie y
– Economic and Sociological S udies
Heise
Since 2002
F i sche
Since 2008
U Hohenheim
Hagemann
1988-2015
Spahn
1992-2017
UAS Ka ls uhe
K äme
Since 1999
Schmid
Since 2011
U Kiel
Jeck
1969-2000
U Lünebu g
Hu h
(???)-2022
U Oldenbu g
Schüle
1981-2009
T au wein
2000-2025
U Osnab ück
Glombowski
1993-2007
UAS Rhein Waal
Niechoj
Since 2012
U Saa b ücken
S ü zel
1958-1987
U T ie
Filc
1981-2008(?)
Amb osi
1992-2010
U Wuppe al
Sche ka
2004-2020(?)
U Wü zbu g
Bo inge
1992-2020
No es:
I alics: ac i e in he pe iod om he 1970s un il he la e 1990s/ea ly 2000s, bold: ac i e in 2025
U: Uni e si y, TU: Technical Uni e si y, UAS: Uni e si y o Applied Sciences, FHTW: Fachhochschule ü
Technik und Wi scha , FHW: Fachhochschule ü Wi scha , FC: Fo wa d College, HTW: Hochschule ü
Technik und Wi scha , HWP: Hochschule ü Wi scha und Poli ik, HWR: Hochschule ü Wi scha und
Rech .
?: Da es could no be e i ied.
Sou ces: Uni e si y and indi idual websi es o p o esso s, Wikipedia en ies, obi ua ies
Finally, academics doing pos -Keynesian esea ch in Ge many ha e also been qui e p oduc i e
in publishing ex books suppo ing hei eaching, as can be seen in Table 3. The opics co e
in oduc o y ex books o economics in gene al and o mac oeconomics mo e speci ically. Bu
he e a e also mo e ad anced books on (pos -Keynesian) mac oeconomics, dis ibu ion and
g ow h, as well as on (in e na ional) mone a y economics, mone a y and economic policy, and
17
on he heo y o p oduc ion. Fu he mo e, he e a e se e al in oduc o y books and collec ed
essays on he his o y o economic hough , which has been a main a ea o esea ch o se e al
p o esso s con ibu ing o pos -Keynesian wo k.
Table 3: Tex books and in oduc o y collec ed essays by Ge man au ho s con ibu ing o
pos -Keynesian wo k
In oduc ions o mic o- and mac oeconomics
Ad anced mac oeconomics,
dis ibu ion and g ow h
 Bo inge (2020c): in oduc ion o
economics
 Dullien e al (2018): in oduc ion o
mac oeconomics
 Ehn s (2022b, 2023, 2024):
in oduc ions o mode n money heo y
(MMT)
 Heine and He (2013): in oduc ion o
mic o- and mac oeconomics
 K ompha d (2006): in oduc ion o
mac oeconomics
 P an e e al. (2023, 2024): in oduc ions
o mac oeconomics
 T au wein (2018): in oduc ion o
mac oeconomics,
 Zinn (1998): in oduc ion o
mac oeconomics
 Flaschel e al. (2008): Keynesian
mac oeconomics
 Hein (2014, 2018c): dis ibu ion and
g ow h
 Hein (2023a): pos -Keynesian
mac oeconomics
 Hein and S ockhamme (2011b): pos -
Keynesian mac oeconomics and
economic policies
 K ompha d (1993): g ow h and ade
cycle
 K ompha d (1998): unemploymen and
in la ion,
 Spahn (1999): mac oeconomics
 Zinn (2002): ade cycle and g ow h
(In e na ional) mone a y economics, mone a y
and economic policy
Theo y o p oduc ion
 Bo inge e al. (1997): mone a y policy
 Heise (2010): economic policy
 Spahn (2006): mone a y policy
 S ade mann (1994): mone a y
economics and mone a y policy
 S ade mann (1988): in e na ional
mone a y economics
 Ku z and Sal ado i (1997): heo y o
p oduc ion
His o y o economic hough
 Dimand and Hagemann (2019): Keynes
 K ompha d (2013): Keynes
 K ompha d (2015): his o y o economic hough
 Ku z (2008, 2009, 2013b, 2016): his o y o economic hough
 Sandelin, T au wein e al. (2008): his o y o economic hough ,
 Zinn (1987): his o y o poli ical economy
4.2 Associa ions, ne wo ks, councils, esea ch ins i u es
4.2.1 The na ional dimension: an o e iew
As explained in he in oduc ion, Ge man economics and economic policies ha e been
domina ed by di e en a ian s o o hodox economics. This is also ue o he Ge man
Economic Associa ion (Ve ein ü Socialpoli ik). Only in he S anding Field Commi ee His o y
o Economic Though (Ausschuss ü Geschich e de Wi scha swissenscha ), we ind a
18
ele an numbe o esea che s who ha e con ibu ed o pos -Keynesian wo k in he b oade
sense, as e iewed in Sec ion 3 abo e.
24
Also he Ge man Council o Economic Expe s (Sach e s ändigen a Wi scha , SVR),
ounded in 1963 and p oducing annual epo s on he s a e o and he ou look o he Ge man
economy o he Ge man go e nmen , has been domina ed by o hodox economis s.
25
Only a
ew membe s o his Council ha e been among hose Ge man esea che s who ha e
con ibu ed o pos -Keynesian esea ch: Wol gang S ü zel (1966-1968), Jü gen K ompha d
(1999-2004), Pe e Bo inge (2004-2019), and Achim T uge (since 2019). The la e h ee
we e nomina ed by he Ge man T ade Union Con ede a ion (Deu sche Gewe kscha sbund,
DGB), which has an in o mal igh o nomina e one o he i e membe s o he Council o
Economic Expe s, as ha e he Ge man Employe Associa ions.
The majo esea ch ins i u es in Ge many ha e been domina ed by o hodox economis s,
oo. Howe e , a ew p o esso s in Ge many con ibu ing o pos -Keynesian esea ch ha e had
a pe iod a hese ins i u es.
26
This is ue o Klaus W. Schüle , who was a he i o Ins i u e o
Economic Resea ch in Munich be o e becoming a p o esso a Ca l on Ossie zky Uni e si y o
Oldenbu g. I also applies o Gus a Ho n, Ul ich F i sche and Camille Logeay, who we e a he
Ge man Ins i u e o Economic Resea ch in Be lin (Deu sches Ins i u ü
Wi scha s o schung, DIW), in he o ecas ing depa men . This depa men was headed by
Ho n, be o e he mo ed on o become he di ec o o he newly ounded Mac oeconomic
Policy Ins i u e (Ins i u ü Mak oökonomie und Konjunk u o schung, IMK) in he Hans
Böckle Founda ion om 2005 – 2019. As IMK di ec o , he was succeeded by Sebas ian Dullien
in 2019, who has also emained a p o esso a HTW Be lin. Se e al p o esso s con ibu ing o
pos -Keynesian economics ha e wo ked as senio esea che s a he IMK be o e joining
Ge man uni e si ies and uni e si ies o applied sciences: Sebas ian Geche (Uni e si y o
Technology Chemni z), Eckha d Hein (Be lin School o Economics and Law, HWR), Heike
Joebges, Camille Logeay, Fabian Lindne (all HTW Be lin), To s en Niechoj (Rhine-Waal
Uni e si y o Applied Sciences), Ch is ian P oano (Uni e si y Bambe g), as well as Achim
T uge and Till an T eeck (bo h Uni e si y Duisbu g-Essen).
27
Also he o he esea ch ins i u e
24
On he published lis we ind: Ingo Ba ens, Volke Caspa i, Di k Ehn s, Ha ald Hagemann, Jochen Ha wig, F i z
Helmedag, Hagen K äme , Jü gen K ompha d , Heinz D. Ku z, Be am Sche old, Johannes Schmid , Pe e Spahn,
and Hans-Michael T au wein (h ps://his o y-
economic hough .commi ee.socialpoli ik.de/si es/de aul / iles/2023-04/mi gliede %202023.pd , 10.1.2025).
Also in he S anding Field Commi ee Economic Policy (Wi scha spoli ische Ausschuss), we ind a ew
esea che s ha ing con ibu ed o pos -Keynesian economics in ou b oad de ini ion: Pe e Bo inge , F i z
Helmedag and Pe e Spahn (h ps://economic-policy.commi ee.socialpoli ik.de/si es/de aul / iles/2022-
07/Mi gliede e zeichnis_0.pd (10.1.2025).
25
Mo e in o ma ion on he Ge man Council o Economic Expe s can be ound he e
h ps://www.sach e s aendigen a -wi scha .de/en/index.h ml (10.1.2025) and he e:
h ps://de.wikipedia.o g/wiki/Sach e s %C3%A4ndigen a _zu _Begu ach ung_de _gesam wi scha lichen_En
wicklung (10.1.2025).
26
In o ma ion p o ided in his pa ag aph has been e ie ed om he websi es o he esea che s men ioned
he e.
27
The IMK has also hos ed se e al pos -Keynesian isi ing schola s in he pas , like Hagen K äme , Tom Palley
and Engelbe S ockhamme . Cu en ly, Isabella Webe and Pe e Bo inge a e among he senio esea ch ellows
o he IMK (h ps://www.imk-boeckle .de/de/senio - esea ch- ellows-15359.h m, 28.3.2025).
19
o he ade union ela ed Hans Böckle Founda ion, he Ins i u e o Economic and Social
Resea ch (Wi scha s- und Sozialwissenscha liches Ins i u , WSI), has been he hos o pos -
Keynesian p o esso s be o e hei uni e si y ca ee , like A ne Heise (Uni e si y Hambu g). Also
Eckha d Hein and Achim T uge we e senio esea che s a he WSI be o e mo ing on o he
IMK, and hen o he uni e si y sec o .
In he ace o he dominance o o hodox economis s in Ge many, wi h he excep ion o
he ade union ela ed esea ch ins i u es, he opening o uni e si ies o he e odox
p o esso s also saw he es ablishmen o al e na i e associa ions and ne wo ks. The i s was
he Wo king G oup Al e na i e Economic Policies (A bei sg uppe Al e na i e
Wi scha spoli ik/Memo andum G uppe),
28
ounded as a ne wo k in 1975 by Rudol Hickel,
Jö g Hu schmid and He be Schui, hen all based a he Uni e si y o B emen. Since 1977,
he g oup has published annual memo anda c i icising he o hodox economic policies in
Ge many and p o iding economic policy al e na i es o hose ecommended by he o hodox
majo i y o he Council o Economic Expe s. The analyses and he policy al e na i es ha e
been based on Ma xian and pos -Keynesian ounda ions, as becomes clea in Hickel (1979)
and Hu schmid (1979). The g oup, composed o academics in he social sciences, as well as
ade union and social mo emen ac i is s, has also been unning annual con e ences and
summe schools, wi h a clea ocus on de eloping and p o iding al e na i e economic policy
concep s.
29
The Ge man Associa ion o Poli ical Economy (A bei sk eis Poli ische Ökonomie),
30
was
ounded in 1977, wo yea s a e he Wo king G oup Al e na i e Economic Policies, because
se e al esea che s did no subsc ibe o he Ma xian/pos -Keynesian o ien a ion o he
Memo andum G oup.
31
Re iewing he ini ial decade o he Associa ion o Poli ical Economy,
Hödl (1988) dis inguished di e en heo e ical s ands wi hin his associa ion: a c i ical
neoclassical s and (Haslinge and Schneide 1983, Vog 1983, Schneide 1988), which keeps
he neoclassical me hodological indi idualism and he gene al equilib ium amewo k as a
e e ence model bu concedes ma ke impe ec ions and ocusses on he dis ibu ion o ini ial
28
Mo e in o ma ion on he Wo king G oup Al e na i e Economic Policies is p o ided he e:
h ps://www.al e na i e-wi scha spoli ik.de/ (10.1.2025).
29
Jö g Hu schmid (Uni e si y o B emen), he co- ounde o he Ge man Wo king G oup Al e na i e Economic
Policies, was also he d i ing o ce in es ablishing he Eu opean Economis s o an Al e na i e Economic Policy
(Eu oMemo G oup) in 1995 (h ps://eu omemo.eu/, 10.1.2025), ini ially also as a ne wo k (Huffschmid 2006).
When Hu schmid passed away in 2009, T e o E ans (Be lin School o Economics and Law) ook o e he ole as
a coo dina o , and since 2019 We ne Raza (Vienna) has been chai ing he commi ee o he since hen legal
associa ion.
30
Fo mo e in o ma ion on he Ge man Associa ion o Poli ical Economy, see h ps://www.uni-
lensbu g.de/sozial-und-bildungsoekonomik/akpoloek/ (10.1.2025) and
h ps://de.wikipedia.o g/wiki/A bei sk eis_poli ische_%C3%96konomie (10.1.2025).
31
Fo deba es be ween membe s o he Wo king G oup Al e na i e Economic Policies and o he Associa ion o
Poli ical Economy, see o example Riese’s (1979) mone a y Keynesian and Geipel’s e al. (1979) c i ical
neoclassical assessmen s o he heo e ical ounda ions o he Memo andum G oup and i s economic policy
p oposals, and Hickel’s (1979) and Hu schmid’s (1979) de ences. See also Spahn‘s (1983) c i ique o he o e -
sa ing and excess p o i explana ion o s agna ion p oposed by he Memo andum G oup and Hickel’s and Schui’s
(1983) esponse. Fo a discussion o he c i ical o adical neoclassical app oach, as a main s and in he Ge man
Associa ion o Poli ical Economy, see he con ibu ions in Hickel (1986).

20
endowmen s, and hen he mone a y Keynesian s and, he S a ian/neo-Rica dian s and and
a Ma xian-pos -Keynesian s and, as we ha e e iewed in Sec ion 3 o his pape as di e en
s ands o pos -Keynesian economics. The Associa ion o Poli ical Economy o ganised wo
con e ences pe yea ocussing on di e en subjec s wi h egula book publica ions o he
con e ence p oceedings, in pa icula he yea book Ökonomie und Gesellscha (Economy and
Socie y). I was inally dissol ed in 2019 because o a downwa ds end in con e ence
pa icipa ion and a lack o in e es in o ganising u he con e ences.
32
The Ge man Keynes Socie y (Keynes Gesellscha ), ounded in 2003 and cu en ly wi h
a ound 180 membe s, has ocused on p o iding in o ma ion abou Keynes and his wo k o
Ge man s uden s and he Ge man public in Ge man (K ompha d 2005).
33
Fo ha pu pose i
has been unning a websi e wi h in oduc ions o Keynes’s main con ibu ions, u he
de elopmen s by (pos -)Keynesian au ho s and compa isons wi h mone a is and new
Keynesian app oaches. Since 2006, he Keynes Socie y has o ganised annual con e ences, i
has published he con e ence con ibu ions in a book se ies wi h Me opolis Ve lag (see mo e
below in Sec ion 4.3), and i has awa ded p izes o esea che s, o jou nalis s and o young
schola s. The Keynes Socie y was ini ially chai ed by Jü gen K ompha d (Technical Uni e si y
Be lin, 2003-13), who was hen succeeded by Ha ald Hagemann (Uni e si y Hohenheim, 2013-
19), Gus a Ho n (Uni e si y Duisbu g-Essen, 2019-2025), and ecen ly by Hagen K äme (UAS
Ka ls uhe, since 2025).
4.2.2 The in e na ional dimension: he Fo um o Mac oeconomics and Mac oeconomic
Policies (FMM)
The Fo um o Mac oeconomics and Mac oeconomic Policies (FMM) is cu en ly he mos
impo an ne wo k o pos -Keynesian economics in Ge many, and is has also eached high
in e na ional isibili y and a ac i eness.
34
The FMM was ounded as Resea ch Ne wo k
Mac oeconomics and Mac oeconomic Policies (Fo schungsne zwe k Mak oökonomie und
mak oökonomische Poli ik, FMM) in 1996, and has been unded by he Hans Böckle
Founda ion (HBS) since hen. I was o ganisa ionally based a he WSI o he HBS un il 2005,
when i mo ed o he newly ounded IMK o he HBS. I s mission is ou lined on he FMM
websi e as ollows:
‘(T)he Fo um o Mac oeconomics and Mac oeconomic Policies (FMM) has se ed as an
in e na ional pla o m o esea ch, analysis and discussions o mac oeconomic issues,
mainly om a Keynesian and pos -Keynesian pe spec i e, bu also open o o he
pa adigms. We s i e o mo e plu alism in he economics p o ession. Mac oeconomic
heo y is seen as he basis o policies, which aim a high employmen , low in la ion,
inancial s abili y, en i onmen al sus ainabili y, educed inequali y, and he e adica ion o
po e y.’
32
E-mail by he long- ime chai man Ge d G özinge o membe s on 29 Oc obe 2019.
33
Mo e in o ma ion on he Ge man Keynes Socie y is p o ided he e: h ps://keynes-gesellscha .de (10.1.2025).
34
Fo mo e in o ma ion on he Fo um o Mac oeconomics and Mac oeconomic Policies (FMM), see
h ps://www. mm-mac o.ne (10.1.2025). See also he o e iews in Hein and P iewe (2009) and in Geche e al.
(2017).
21
The FMM has o ganised annual wo kshops/con e ences, g adua e s uden summe schools
(since 2008), i has been unning a websi e and a newsle e , edi ed a wo king pape se ies
(since 2017), es ablished a ne wo k o FMM ellows (since 2017), published he FMM book
se ies wi h Me opolis Publishing House (Me opolis Ve lag), and i has closely coope a ed
wi h he Eu opean Jou nal o Economics and Economic Policies: In e en ion (since 2004). Fo
he de elopmen o he FMM h ee phases can be dis inguished.
The i s phase om 1996 – 2001 saw he es ablishmen o a Ge man (pos -)Keynesian
ne wo k in o de o link up he emaining esea che s in Ge m any in his a ea and o ca ch up
wi h he in e na ional pos -Keynesian deba es. I s a ed wi h a wo kshop in Düsseldo wi h
a ound 20 schola s, ini ia ed by A ne Heise, hen a senio esea che a he WSI o he HBS, o
p epa e an applica ion o Ge man Resea ch Founda ion (Deu sche Fo schungsgemeinscha ,
DFG) on unding a esea ch ocus on ‘Al e na i e Concep s o Mac oeconomic Policies unde
he Condi ions o Unemploymen , Globalisa ion and High Public Deb ’ (Heise e al. 1998). This
applica ion ailed, and he Hans Böckle Founda ion s epped in and has unded annual
wo kshops o he FMM since hen. The wo kshops we e p epa ed by a coo dina ion g oup led
by A ne Heise (WSI) and including T e o E ans, Michael Heine, Jan P iewe, Claus
Thomasbe ge (each FHTW Be lin), and Hansjö g He (FHW Be lin). The i s FMM wo kshop
wi h he opic o he DFG applica ion ook place in Be lin in Oc obe 1997, wi h 35 schola s
a ending and 14 pape s p esen ed in Ge man. Wi h his wo kshop also he publica ion o
wo kshop p oceedings wi h Me opolis Publishing House s a ed, which hen became he
book se ies o he FMM (see mo e below in Sec ion 4.3). The u he annual wo kshops o his
pe iod had a simila numbe o pape s in Ge man, bu g adually inc easing numbe s o
pa icipa ing schola s.
The second phase om 2001 – 2009 was cha ac e ised by a apid in e na ionalisa ion o
he FMM. In 2001, Eckha d Hein, hen a senio esea che a he WSI and la e a he IMK
eplaced A ne Heise in leading he coo dina ion g oup. He was accompanied in his by Achim
T uge , hen also a senio esea che a he WSI and la e he IMK, and since 2007 by To s en
Niechoj a he IMK. In 2007, A ne Heise and Michael Heine le he coo dina ion g oup, and
To s en Niechoj ( hen a IMK), Jochen Ha wig ( hen a Uni e si y o Zu ich), Pe e Spahn
(Uni e si y Hohenheim) and Engelbe S ockhamme ( hen a Vienna Uni e si y o Economics)
joined as new membe s. While he pa icipa ion o in e na ional schola s, like Philip A es is
(Uni e si y o Camb idge), Malcolm Sawye (Uni e si y o Leeds), Claude Gnos (Uni e si y o
Dijon) o Se gio Rossi (Uni e si y o F ibou g), in s ill Ge man language wo kshops had
inc eased, in 2004 he i s uly in e na ional con e ence on ‘Wages, Dis ibu ion and G ow h’
ook place, wi h 28 pape s om 8 di e en coun ies and 90 schola s a ending, pa allel
sessions in Ge man and English, and plena y p esen a ions by Philip A es is, Ami Bhadu i and
Thomas Palley, amongs o he s. The inal b eak h ough as an in e na ional con e ence was
he 2005 FMM con e ence on ‘Mac oeconomics and Mac oeconomic Policies – Al e na i es
o he O hodoxy’, join ly o ganised wi h he Pos -Keynesian Economics S udy G oup (PKESG,
UK) and he F ench Associa ion o he De elopmen o Keynesian S udies (ADEK), wi h 72
22
pape s om 16 di e en coun ies and 150 schola s a ending.
35
Apa om publishing
con e ence books wi h Me opolis, in 2004 he coope a ion wi h In e en ion: Jou nal o
Economics (now Eu opean Jou nal o Economics and Economic Policies: In e en ion) s a ed
wi h he publica ion o special issues d awing on con e ence pape s. F om 2004 – 2006, he
FMM also had wo wo king g oups mee ing mo e equen ly, one on Keynesian
mac oeconomics and ano he one on Eu opean economic policies (in coope a ion wi h he
Chambe o Labou Vienna), he la e concluding wi h an in e na ional wo kshop in Vienna
and a book publica ion (Chaloupek e al. 2007). Wi h he inc easing agili y o he wo ld
economy and hen he 2007-09 Global Financial C isis and G ea Recession, he FMM
con e ences we e gaining in ele ance and a endance. The 2008 con e ence on
‘Mac oeconomic Policies on Shaky Founda ions – Whi he Mains eam Economics?’ had 81
pape s om 15 di e en coun ies and a ound 200 schola s a ending,
36
while he 2009
con e ence on ‘The Wo ld Economy in C isis – The Re u n o Keynesianism?’ had 100 pape s
and 240 schola s a ending.
37
Towa ds he end o his second pe iod, he FMM also inc eased i s ocus on and suppo
o younge schola s. In 2006 g adua e s uden s sessions we e included in o he con e ence
p og ammes and since 2007 a ull ime slo has been ese ed o he p esen a ion o g adua e
s uden pape s. In 2008, he i s one week FMM summe school on ‘Keynesian Economics
and Eu opean Economic Policies’ wi h 55 pa icipan s, lec u e s and g adua e s uden s, ook
place in Be lin, o ganised by Eckha d Hein, To s en Niechoj and Engelbe S ockhamme wi h
he suppo o he Hans Böckle Founda ion.
38
The second summe school ollowed in 2009,
and since hen he summe school has been o e ed e e y second yea , excep o 2021
(Co id), when i con inued in 2022 and 2024. The e ised lec u es o he i s wo summe
schools we e published in Hein and S ockhamme (2011a).
The hi d pe iod since 2009 has seen a u he expansion o he ac i i ies o he FMM and
he s abilisa ion o he annual in e na ional con e ences a a high le el. In 2009, Till an
T eeck, hen a senio esea ch a he IMK, ook o e he lead in he coo dina ion g oup o he
FMM. He was succeeded by Sebas ian Geche , hen also a senio esea che a he IMK, in
35
Plena y p esen a ions a he 2005 FMM con e ence we e gi en by Sheila Dow, Augus o G aziani, Ha ald
Hagemann, G.C. Ha cou , Hanjö g He , Gus a Ho n, Jö g Hu schmid, Pascal Pe i , and Malcolm Sawye
(h ps://www.imk-boeckle .de/de/dokumen a ionen-15388-mac oeconomics-and-mac oeconomic-policies-
al e na i es- o- he-o hodoxy-30141.h m, 29.3.2025).
36
Plena y p esen a ions a he 2008 FMM con e ence we e gi en by B uno Amable, Da id Colande , Cha les
Goodha , John E. King, Thomas Palley, and Hans-Michael T au wein (h ps://www.imk-
boeckle .de/de/dokumen a ionen-15388-mac oeconomic-policies-on-shaky- ounda ions-whi he -mains eam-
economics-30138.h m , 29.3.025).
37
Plena y p esen a ions a he 2009 FMM con e ence we e gi en by Philip A es is, S e en Faza i, Jan K egel,
Robe Pollin, Jan P iewe, and Jan Topo owski (h ps://www.imk-boeckle .de/de/dokumen a ionen-15388- he-
wo ld-economy-in-c isis- he- e u n-o -keynesianism-30137.h m , 29.3.2025).
38
The summe schools since 2008 ha e included lec u es by Philip A es is, Robe Blecke , Yannis Da e mos,
Ami a a Du , Ga y Dymski, Sebas ian Dullien, S e e Fazza i, Giuseppe Fon ana, Sebas ian Geche , Eckha d Hein,
Da id Howell, Heike Joebges, John E. King, Annina Kal enb unne , S ephen Kinsella, Ma c La oie, John
McCombie, Ma ia Nikolaidi, Özlem Ona an, Asjad Naq i, Thomas Palley, Mi iam Rehm, Malcolm Sawye , Ma k
Se e ield, An onella S i a i, Engelbe S ockhamme , Till an T eeck, and Genna o Zezza (h ps://www. mm-
mac o.ne /summe -schools-14182.h m, 29.3.2025).
23
2014. Since 2016, he FMM has had wo speake s, Sebas ian Geche ( hen IMK, 2016-2022)
and Sebas ian Dullien (HTW Be lin, 2016-2019), who we e succeeded by Heike Joebges (HTW
Be lin, since 2019), And ew Wa ( hen IMK, 2022-2024), and Jan Beh inge (IMK, since 2024).
Also he coo dina ion g oup has seen se e al changes in his pe iod and is cu en ly (ea ly
2025) composed o : Jan Beh inge (IMK, speake ), Heike Joebges (HTW Be lin, speake ), Tom
Baue mann (IMK), Sebas ian Dullien (IMK and HTW Be lin), Sebas ian Geche (Uni e si y o
Technology Chemni z), Jochen Ha wig (Uni e si y o Technology Chemni z), Eckha d Hein
(HWR Be lin), Hansjö g He (HWR Be lin), Ch is oph Pae z (IMK), Jan P iewe (HTW Be lin),
To s en Niechoj (Rhine-Waal UAS), Özlem Ona an (G eenwich Uni e si y, London), Mi iam
Rehm (Uni e si y Duisbu g-Essen), Engelbe S ockhamme (King’s College, London), Till an
T eeck (Uni e si y Duisbu g-Essen), Achim T uge (Uni e si y Duisbu g-Essen), and And ew
Wa (ETUI B ussels). The annual con e ences ha e g own u he , such ha he 20 h
anni e sa y con e ence o he FMM on ‘Towa ds Plu alism in Mac oeconomics?’ in 2016 had
120 pape s and a ound 300 schola s a ending,
39
and he 2022 join con e ence wi h he Pos -
Keynesian Economics Socie y (PKES, UK) on ‘Pos -Keynesian Economics and Global Challenges’
eached he eco d high o 150 pape s and a ound 350 schola s a ending.
40
The ollowing
con e ences on ‘In la ion, Dis ibu ion Con lic and Jus T ansi ion’ in 2023,
41
and on
‘P og essi e Pe spec i es in Times o Polyc isis’ in 2024 ha e oughly main ained ha le el.
42
Since 2010, he annual con e ence has been p eceded by an in oduc o y wo kshop o
pos -Keynesian and he e odox economics wi h h ee lec u es by eminen esea che s.
43
Fu he mo e, in 2016 and 2018, Hansjö g He , Jan P iewe and And ew Wa ha e o ganized
addi ional wo kshops on Eu opean economic policies and ha e edi ed he espec i e books
wi h he wo kshop con ibu ions (He e al. 2017, 2019). In 2017, he FMM s a ed appoin ing
FMM Fellows, and cu en ly he e a e 29 FMM Fellows,
44
oge he wi h he 16 membe s o
39
Plena y p esen a ions a he 2016 FMM con e ence we e gi en by Sebas ian Dullien, An oine Godin, Eckha d
Hein, Ma c La oie, Ma ia Nikolaidi, Michael Roos, I ene an S a e en, and Janina U ban (h ps://www.imk-
boeckle .de/de/dokumen a ionen-15388-25687.h m, 29.2.2025).
40
Plena y p esen a ions a he 2022 FMM con e ence we e gi en by Robe Blecke , Elissa B auns ein, Sebas ian
Geche , Joelle Leclai e, Jo Michell, Gab iel Po cile, Daniela P a es, zlem Ona an, and Ma k Se e ield
(h ps://www.boeckle .de/de/dokumen a ionen-2720-26 h- mm-con e ence-pos -keynesian-economics-and-
global-challenges-40775.h m , 29.2.2025).
41
Plena y p esen a ions a he 2023 FMM con e ence we e gi en by Leila Da is, A ind aji Dube, Miguel Gil-
Te e, Eckha d Hein, Ma c La oie, Lilian N. Rolim, Ch is ian Schode , Se aas S o m, and And ew Wa
(h ps://www.imk-boeckle .de/de/dokumen a ionen-15388-in la ion-dis ibu ional-con lic -and-jus - ansi ion-
46745.h m, 29.2.2025).
42
Plena y p esen a ions a he 2024 FMM con e ence we e gi en by Pe e Bo inge , Gio anni Dosi, Es he Dweck,
S enja Flech ne , Robe F ank, Hansjö g He , O la Kelly, Annama ia Simonazzi, and Till an T eeck
(h ps://www.boeckle .de/de/dokumen a ionen-2720-p og essi e-pe spec i es-in- imes-o -polyc isis-
57227.h m, 29.2.2025)-
43
Lec u e s in hese wo kshops ha e included Elisabe h Allgoewe , Philip A es is, Lau a Ba bosa de Ca alho,
Ami Bhadu i, Robe Blecke , Yannis Da e mos, Sebas ian Dullien, S e en Fazza i, Robe F ank, Ba ba a F i z,
Daniela Gabo , Jaya i Ghosh, An oine Godin, Eckha d Hein, Annina Kal enb unne , Ma c La oie, Tom Palley,
Michael Roos, Wal aud Schelkle, S ephanie Seguino, Ma k Se e ield, Elisabe h Sp ingle , Tom S anley,
An onella S i a i, Engelbe S ockhamme , and Till an T eeck (h ps://www. mm-mac o.ne /con e ences-
14184.h m, 29.3.2025).
44
These FMM ellows a e: Philip A es is, Lau a Ba bosa de Ca alho, Jö g Bibow, Robe Blecke , Pe e Bo inge ,
Lau a Ca alho, Yannis Da e mos, T e o E ans, S e en Fazza i, Jesus Fe ei o, S enja Flech ne , Ba ba a F i z,
30
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