 It is a heterodox approach to economics.The term "post-Keynesian" was first used to refer to a distinct school of economic thought by Eichner and Kregel (1975) and by the establishment of the "Journal of Post Keynesian Economics" in 1978.Prior to 1975, and occasionally in more recent work, "post-Keynesian" could simply mean economics carried out after 1936, the date of Keynes's "General Theory".