A simple idea from game theory could yet upset the sacred tenants of neoclassical economics. This articles explores the implications for the theory of distribution and Keynes's theory of effective demand.
The co-option of “fairness” by the UK's new government has unnerved many on the left. Yet in reality, all sides have always drawn on the language of fairness. What is at stake is really the interpretation of the causes of inequality; a matter of economics. This article suggests how we should interpret the inequalities of modern society from a post-Keynesian perspective