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In this important book, Professor Carvalho firmly establishes the methodological connections between Keynes's uncertainty concept and the evolving post Keynesian literature. At the same time, he demonstrates why the Hicksian ISLM `Keynesian' approach went off the careful analytic tracks laid down by Keynes.
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The late Fernando J. Cardim de Carvalho, formerly Professor of Economics, Federal University, Rio de Janeiro, BrazilReview:
`Carvalho presents an excellent overview of the post Keynesian school. The book is so clear that it is accessible to an advanced undergraduate, yet illuminating enough that it will be instructive to anyone not thoroughly versed in post Keynesian thought. In short this book merits strong recommendation.' -- M. Perelman, Choice `Professor Carvalho has written a theoretical guide to the realities of the operation of a monetary economy. Both students and those teachers who wish to comprehend and work towards a pragmatic solution of the pressing economic problems of the real world, will be indebted to the lucid exposition provided by Carvalho in this volume. He has provided us with a model textbook to bring students of economics into contact with the realities of the twenty-first century.' -- Paul Davidson, New School University, New York, US `. . . Carvalho's book is no doubt worth reading, both by the already convinced post Keynesians and by those economists who are yet to be. Carvalho makes a valiant attempt at setting the foundations of the post Keynesian research program, and he gives a coherent picture of an analysis based on Keynes's own-rates of interest. Those qualities make it compulsory reading for economics students searching for alternatives to neoclassical theory.' -- Marc Lavoie, Journal of Economic Issues
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