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Paul Davidson (1930–2024) was a prominent figure in Post Keynesian economics. He co-founded and served as the editor of the Journal of Post Keynesian Economics and organized the Post Keynesian International Workshop. Davidson's intellectual contributions include a focus on non-neoclassical uncertainty and its relation to money, liquidity, and liquidity preference, as well as the role of government in the economy. He also made significant contributions to the understanding of asset choice, the interaction between financial and goods markets, and the determination of asset liquidity. Davidson's work extended Post Keynesian macroeconomics to the global economy and he proposed reforms to the international monetary system. While he drew heavily on Keynes's writings, he did not explore the connections between The General Theory and Keynes's A Treatise on Probability. Davidson's contributions to Post Keynesian economics were significant, although there were some disagreements among scholars regarding certain aspects of his work. [Extracted from the article]

Masstige, or luxury for the masses, is a phenomenon that requires a heterodox economic approach based on Original Institutional Economics view of corporate power combined with Marxian concept of brand fetishism and post-Keynesian theories of pricing and consumer choice. The attitude toward luxury in classical works on political economy is briefly outlined. By applying the post-Keynesian theory of oligopolistic pricing, we show how the power of luxury brands enables high profits of luxury conglomerates. We use the post-Keynesian theory of consumer choice to differentiate between various types of masstige buyers. JEL Classification: B52, D11, D21, D43 [ABSTRACT FROM AUTHOR]