Jan Kregel
Encyclopedia
Jan A. Kregel is an eminent Post-Keynesian
economist
.
Kregel has served since 2006 as Professor of Finance and Development at Tallinn University of Technology
, Tallinn
, Estonia
. He is a permanent advisor for the Trade and Development Report of the United Nations Conference on Trade and Development
(UNCTAD). He is an adjunct professor at Johns Hopkins SAIS (SAIS), whose Bologna Center he co-directed in the late 1980s, and as a visiting professor at the University of Missouri–Kansas City
. He is one of the Senior Scholars at the Levy Economics Institute of Bard College. Until 2007, he was Chief of the Policy Analysis and Development Branch of the Financing for Development Office of United Nations Department of Economic and Social Affairs
. Until 2004, he was High Level Expert in International Finance and Macroeconomics in the New York Liaison Office of UNCTAD, being in essence its chief economist. For many years, he held the Chair for Political Economy
at the University of Bologna.
Kregel studied mainly at the University of Cambridge
(with Joan Robinson
and Nicholas Kaldor
) and Rutgers University
(Ph.D.
1970 under supervision of Paul Davidson
). He is a Life Fellow of the Royal Economic Society
in London and in 2000 he co-founded The Other Canon
, a center and network for heterodox economics
research, with main founder and executive chairman Erik Reinert.
"In the 1970-75 period, Professor Kregel was concerned with synthesis, integration and delineation of a Post Keynesian methodology and paradigm. From the mid 1970s until the late 1980s, he worked on the analysis of decision making under uncertainty, on formation of asset prices and on Keynes analysis of Chapter 17 of the General Theory. In 1988, Professor Kregel showed that Keynes’ liquidity preference and own rate analysis were actually two sides of the theory of effective demand. His most recent works on price formation and market structure provide a powerful critique of neoclassical price theory and propose a Keynesian alternative in which expectations of the future go into the determination of current price determination and in which institutional arrangements undergird the process of price formation." (University of Missouri in Kansas City)
Post-Keynesian economics
Post Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, although its subsequent development was influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor and Paul Davidson...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
.
Kregel has served since 2006 as Professor of Finance and Development at Tallinn University of Technology
Tallinn University of Technology
Tallinn University of Technology is the only university of technology in Estonia, and one of the three most important institutions of higher education in Estonia generally. It is located in the capital city of Tallinn, Estonia...
, Tallinn
Tallinn
Tallinn is the capital and largest city of Estonia. It occupies an area of with a population of 414,940. It is situated on the northern coast of the country, on the banks of the Gulf of Finland, south of Helsinki, east of Stockholm and west of Saint Petersburg. Tallinn's Old Town is in the list...
, Estonia
Estonia
Estonia , officially the Republic of Estonia , is a state in the Baltic region of Northern Europe. It is bordered to the north by the Gulf of Finland, to the west by the Baltic Sea, to the south by Latvia , and to the east by Lake Peipsi and the Russian Federation . Across the Baltic Sea lies...
. He is a permanent advisor for the Trade and Development Report of the United Nations Conference on Trade and Development
United Nations Conference on Trade and Development
The United Nations Conference on Trade and Development was established in 1964 as a permanent intergovernmental body. It is the principal organ of the United Nations General Assembly dealing with trade, investment, and development issues....
(UNCTAD). He is an adjunct professor at Johns Hopkins SAIS (SAIS), whose Bologna Center he co-directed in the late 1980s, and as a visiting professor at the University of Missouri–Kansas City
University of Missouri–Kansas City
The University of Missouri–Kansas City is a public university located in Kansas City, Missouri, USA. It is a branch of the University of Missouri System. Its main campus is in Kansas City's Rockhill neighborhood east of the Country Club Plaza...
. He is one of the Senior Scholars at the Levy Economics Institute of Bard College. Until 2007, he was Chief of the Policy Analysis and Development Branch of the Financing for Development Office of United Nations Department of Economic and Social Affairs
United Nations Department of Economic and Social Affairs
The United Nations Department of Economic and Social Affairs is part of the United Nations Secretariat and is responsible for the follow-up to the major United Nations Summits and Conferences, as well as services to the United Nations Economic and Social Council and the Second and Third Committees...
. Until 2004, he was High Level Expert in International Finance and Macroeconomics in the New York Liaison Office of UNCTAD, being in essence its chief economist. For many years, he held the Chair for Political Economy
Political economy
Political economy originally was the term for studying production, buying, and selling, and their relations with law, custom, and government, as well as with the distribution of national income and wealth, including through the budget process. Political economy originated in moral philosophy...
at the University of Bologna.
Kregel studied mainly at the University of Cambridge
University of Cambridge
The University of Cambridge is a public research university located in Cambridge, United Kingdom. It is the second-oldest university in both the United Kingdom and the English-speaking world , and the seventh-oldest globally...
(with Joan Robinson
Joan Robinson
Joan Violet Robinson FBA was a post-Keynesian economist who was well known for her knowledge of monetary economics and wide-ranging contributions to economic theory...
and Nicholas Kaldor
Nicholas Kaldor
Nicholas Kaldor, Baron Kaldor was one of the foremost Cambridge economists in the post-war period...
) and Rutgers University
Rutgers University
Rutgers, The State University of New Jersey , is the largest institution for higher education in New Jersey, United States. It was originally chartered as Queen's College in 1766. It is the eighth-oldest college in the United States and one of the nine Colonial colleges founded before the American...
(Ph.D.
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
1970 under supervision of Paul Davidson
Paul Davidson (economist)
Paul Davidson is an American macroeconomist who has been one of the leading spokesmen of the American branch of the Post Keynesian school in economics...
). He is a Life Fellow of the Royal Economic Society
Royal Economic Society
The Royal Economic Society is incorporated by a Royal Charter dated 2 December 1902. It is one of the oldest economic associations in the world. Currently it has over 3,300 individual members, of whom 60% live outside the United Kingdom...
in London and in 2000 he co-founded The Other Canon
The Other Canon
The Other Canon Foundation is a center and network for research of heterodox economics founded by Erik Reinert. The name refers to the founders' message of there being another economic canon, alternative to the ruling neoclassical economics...
, a center and network for heterodox economics
Heterodox economics
"Heterodox economics" refers to approaches or to schools of economic thought that are considered outside of "mainstream economics". Mainstream economists sometimes assert that it has little or no influence on the vast majority of academic economists in the English speaking world. "Mainstream...
research, with main founder and executive chairman Erik Reinert.
"In the 1970-75 period, Professor Kregel was concerned with synthesis, integration and delineation of a Post Keynesian methodology and paradigm. From the mid 1970s until the late 1980s, he worked on the analysis of decision making under uncertainty, on formation of asset prices and on Keynes analysis of Chapter 17 of the General Theory. In 1988, Professor Kregel showed that Keynes’ liquidity preference and own rate analysis were actually two sides of the theory of effective demand. His most recent works on price formation and market structure provide a powerful critique of neoclassical price theory and propose a Keynesian alternative in which expectations of the future go into the determination of current price determination and in which institutional arrangements undergird the process of price formation." (University of Missouri in Kansas City)
Publications by Jan Kregel
- Rate of Profit, Distribution and Growth: Two Views. London: Macmillan; Chicago: Aldine, 1971
- The Theory of Economic Growth. London: Macmillan, 1972
- The Reconstruction of Political Economy. London: Macmillan, 1973
- The Theory of Capital. London: Macmillan, 1976
- Market Shock: An Agenda for Economic and Social Reconstruction of Central and Eastern Europe. Ann Arbor: University of Michigan Press, 1992 (with others)