Keynes's General Theory, the Rate of Interest and Keynesian' Economics [Hardcover]

This book argues that Keynesian economists have betrayed Keynes' theory and policy conclusions, and that the world has been misled about those policies. Keynesians have focused attention on policies for dealing with effects of economic failure as they arise, whereas Keynes was concerned with the cause and then the prevention of economic failure.Acknowledgements Introduction PART I: HISTORY Monetary Economics and Monetary Policy JMK and the Fourth Grand Monetary Discussion The Origins of Keynesian Economics PART II: THEORY The Saving-Investment Identity and the Transition to the General Theory The Theory of Liquidity Preference and Debt Management Policy The Monetary Theory of Real Activity PART III: MACROECONOMICS AFTER KEYNES Keynes's Response to Keynesian Economics The Keynesian Counter-Revolution and Thereafter The General Theory and the 'Facts of Experience' Conclusion Bibliography

' such an important book not merely another book on the history of Keynes's monetary thought. It provides compelling evidence of where 'Keynesians' of all shades have gone wrong and simultaneously provides them with the ammunition to generalize what passes for modern monetary theory and macroeconomics. It enables macroeconomists to put Keynes back into Keynesian economics.' - Colin Rogers, University of Adelaide, Australia

'This is an extraordinary book and a major and significant contribution to Post-Keyensian literature.' - Jan Toporowski, School of African and Oriental Studies, University of London, UK

'Above all, this book is a good read, which may achieve that rare combination of a high level of scholarship with relevance to the policy advisor.' - Mark Hayes, University of Cambridge, UK

What's all the fuss about then? Well, unlike most books on economics, this one is beautifully written, with only the simplest few equations, no acronyms or abstruse jargon in sight, and not too long. In three parts History, Theory, and lÓ'