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Post Keynesian economic theorists have ignored the household as an economic institution as if economic growth and macroeconomics have nothing to do with the economic dynamics of households. This obvious neglect of the household by Post Keynesians also results in their failure to take into consideration the influence of households on labor markets and the type of bargains established over real wages and labor market access. It is therefore necessary and appropriate to develop a Post Keynesian economic theory of the household in order to come up with a better understanding of macroeconomic principles.