John Maynard Keynes failed to correctly interpret classic economic concepts, and dismissed the classical explanations and conclusions as being irrelevant to the world in which we live. The trauma of the Great Depression and Keynes's changed definition of economic concepts, aided by Eugen Böhm-Bawerk, have made it difficult for modern economists to fully appreciate the classical insights.
This outstanding book clarifies the classical explanations to resolve the continuing theoretical and policy disputes. Key chapters include:
On the Definition of Money
Keynes's Misinterpretation of the Classical Theory of Interest
The Classical Theory of Growth and Keynes's Paradox of Thrift
The Mythology of the Keynesian Multiplier
This unique book demonstrates that it is Keynes's understanding of some fundamental classical economic concepts which is at fault, and extends its analysis to other modern contributions in macroeconomics.
John Maynard Keynes failed to correctly interpret classic economic concepts, and dismissed the classical explanations and conclusions as being irrelevant to the world in which we live. The trauma of the Great Depression and Keynes's changed definition of economic concepts, aided by Eugen Böhm-Bawerk, have made it difficult for modern economists to fully appreciate the classical insights.
This outstanding book clarifies the classical explanations to resolve the continuing theoretical and policy disputes. Key chapters include:
On the Definition of Money
Keynes's Misinterpretation of the Classical Theory of Interest
The Classical Theory of Growth and Keynes's Paradox of Thrift
The Mythology of the Keynesian Multiplier
This unique book demonstrates that it is Keynes's understanding of some fundamental classical economic concepts which is at fault, and extends its analysis to other modern contributions in macroeconomics.
This book examines new classical macroeconomics from a comparative and critical point of view that confronts the original texts and later comments as a first dimension of comparison. The second...
This book on Classical micro- and macrodynamics includes revised versions of papers which were written between 1983 and 2000, some jointly with co-authors, and it supplements them with recent work on...
Contrary to common belief, macroeconomics is not merely a theory of aggregates, and cannot be constructed from individual behaviour. Both nationally and internationally, there are economic laws that...
This book aims to showcase and advance recent debates over the extent to which undergraduate macroeconomics teaching models adequately reflect the latest developments in the field. It contains 16...
Macroeconomics is your guide to how economics shape how the world functions today. But too often our understanding is based on orthodox, dogmatic analysis. This distinctive book draws upon years of...
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