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

Garretsen, Harry

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ISBN 10: 1852786205 / ISBN 13: 9781852786205
Published by Edward Elgar Pub, 1992
Used Condition: Good
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Former Library book. Shows some signs of wear, and may have some markings on the inside. Bookseller Inventory # GRP68283253

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Bibliographic Details

Title: Keynes, Coordination, and Beyond: The ...

Publisher: Edward Elgar Pub

Publication Date: 1992

Book Condition:Good

About this title

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.

About the Author:

Harry Garretsen, University of Groningen, The Netherlands

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