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Keynes, Coordination and Beyond: The Development of Macroeconomic and Monetary Theory Since 1945
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Keynes, Coordination and Beyond: The Development of Macroeconomic and Monetary Theory Since 1945 (Hardback)

£96.00
Currently unavailable. Foyles can order for despatch to customer when the publisher is re-supplied on 24/07/1992.
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Synopsis

This book argues that the coordination problem lies at the heart of Keynes's economics. It shows how Keynes's message got lost in the post-War period and develops a more fruitful extension of Keynes's ideas within a general equilibrium framework and alternative frameworks such as post Keynesian and Austrian economics. It is demonstrated that in the absence of a coordinating device like the Walrasian auctioneer or in the presence of uncertainty, coordination can no longer be superimposed. This ultimately implies that apart from some notable exceptions, the Keynesian revolution was in fact stifled at birth because the validity of the central concepts of microeconomics have never been challenged.



This lively and fascinating book is likely to provoke debate amongst economists and policymakers. Its conclusions place a question mark over the development of economic theory since the Second World War.

BusinessEconomicsEconomic theory & philosophyBusinessEconomicsMacroeconomics Publisher: Edward Elgar Publishing Ltd Publication Date: 24/07/1992 ISBN-13: 9781852786205  Details: Type: Hardback Format: Books
Availability: Currently unavailable. Foyles can order for despatch to customer when the publisher is re-supplied on 24/07/1992.  

Harry Garretsen, University of Groningen, The Netherlands

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