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Keynes’s General Theory
Seventy-Five Years Later
9781845424114 Edward Elgar Publishing
This volume, a collection of essays by internationally known experts in the area of the history of economic thought and of the economics of Keynes and macroeconomics in particular, is designed to celebrate the 75th anniversary of the publication of The General Theory.
More Information
Critical Acclaim
Contributors
Contents
More Information
This volume, a collection of essays by internationally known experts in the area of the history of economic thought and of the economics of Keynes and macroeconomics in particular, is designed to celebrate the 75th anniversary of the publication of The General Theory.
The essays contained in this volume are divided into four sections. The first section contains three essays that explore the concept of fundamental uncertainty and its unique role in The General Theory. The second section contains five essays that examine the place of The General Theory in the history of macroeconomics since 1936. The third section contains three essays that explore the interrelationships among Keynes, Friedman, Kaldor, Marx and Sraffa and their approaches to macroeconomic theory and policy. The final section contains four essays that provide several new interpretations of The General Theory and its position within macroeconomics.
Keynes’s General Theory is intended for those students and scholars who are interested in the economics of Keynes and the rich variety of approaches to macroeconomic theory and policy.
The essays contained in this volume are divided into four sections. The first section contains three essays that explore the concept of fundamental uncertainty and its unique role in The General Theory. The second section contains five essays that examine the place of The General Theory in the history of macroeconomics since 1936. The third section contains three essays that explore the interrelationships among Keynes, Friedman, Kaldor, Marx and Sraffa and their approaches to macroeconomic theory and policy. The final section contains four essays that provide several new interpretations of The General Theory and its position within macroeconomics.
Keynes’s General Theory is intended for those students and scholars who are interested in the economics of Keynes and the rich variety of approaches to macroeconomic theory and policy.
Critical Acclaim
‘This volume of essays certainly deserves a warm welcome and a readership outside as well as within the economics profession.’
– Peter Clarke, Cercles
– Peter Clarke, Cercles
Contributors
Contributors: A. Asensio, R.E. Backhouse, B.W. Bateman, A.F. Camara-Neto, M. DeVroey, R.W. Dimand, P. Docherty, G. Dostaler, O.F. Hamouda, M.G. Hayes, M.N. Luzzetti, E. Muchlinski, L.E. Ohanian, L. Ramrattan, L.-P. Rochon, J. Smithin, M. Szenberg, M. Vernengo, W.R. Wray
Contents
Contents:
In Memory of Gilles Dostaler
Robert W. Dimand
Editor’s Introduction
Thomas Cate
PART I: THE GENERAL THEORY AND FUNDAMENTAL UNCERTAINTY
1. On Keynes’s Seminal Innovation and Related Essential Features: Revisiting the Notion of Equilibrium in The General Theory
Angel Asensio
2. Keynes, the Neglected Theorist
M.G. Hayes
3. Keynes’s Economic Theory – Judgement under Uncertainty
Elke Muchlinski
PART II: THE GENERAL THEORY AND THE HISTORY OF MACROECONOMICS
4. Dead or Alive? The Ebbs and Flows of Keynesianism Over the History of Macroeconomics
Michel DeVroey
5. The Roots of the Present are in the Past: The Relation of Postwar Developments in Macroeconomics to Interwar Business Cycle and Monetary Theory
Robert W. Dimand
6. Keynes’s General Theory, the Quantity Theory of Money and Monetary Policy
Peter Docherty
7. The General Theory of Employment, Interest, and Money after 75 Years: The Importance of Being in the Right Place at the Right Time
Matthew N. Luzzetti and Lee E. Ohanian
8. The impact of The General Theory on Economic Theory and the Development of Public Policies: A Nested Vision of Keynes’s Ideas with the Classical Vision through a Panoramic View of his Works
Lall Ramrattan and Michael Szenberg
PART III: THE GENERAL THEORY AND FRIEDMAN, KALDOR, MARX AND SRAFFA
9. The Right Kind of an Economist: Friedman’s View of Keynes
Roger E. Backhouse and Bradley W. Bateman
10. Keynes after Sraffa and Kaldor: Effective Demand, Accumulation and Productivity Growth
Alcino F. Camara-Neto and Matías Vernengo
11. The General Theory, Marx, Marxism and the Soviet Union
Gilles Dostaler
PART IV: THE GENERAL THEORY AND NEW INTERPRETATIONS
12. The General Theory: Seventy-Five Years Later
Omar F. Hamouda
13. Money’s Endogeneity, Keynes’s General Theory and Beyond
Louis-Phillippe Rochon
14. Interest and Profit
John Smithin
15. Keynes after 75 Years: Rethinking Money as a Public Monopoly
L. Randall Wray
Index
In Memory of Gilles Dostaler
Robert W. Dimand
Editor’s Introduction
Thomas Cate
PART I: THE GENERAL THEORY AND FUNDAMENTAL UNCERTAINTY
1. On Keynes’s Seminal Innovation and Related Essential Features: Revisiting the Notion of Equilibrium in The General Theory
Angel Asensio
2. Keynes, the Neglected Theorist
M.G. Hayes
3. Keynes’s Economic Theory – Judgement under Uncertainty
Elke Muchlinski
PART II: THE GENERAL THEORY AND THE HISTORY OF MACROECONOMICS
4. Dead or Alive? The Ebbs and Flows of Keynesianism Over the History of Macroeconomics
Michel DeVroey
5. The Roots of the Present are in the Past: The Relation of Postwar Developments in Macroeconomics to Interwar Business Cycle and Monetary Theory
Robert W. Dimand
6. Keynes’s General Theory, the Quantity Theory of Money and Monetary Policy
Peter Docherty
7. The General Theory of Employment, Interest, and Money after 75 Years: The Importance of Being in the Right Place at the Right Time
Matthew N. Luzzetti and Lee E. Ohanian
8. The impact of The General Theory on Economic Theory and the Development of Public Policies: A Nested Vision of Keynes’s Ideas with the Classical Vision through a Panoramic View of his Works
Lall Ramrattan and Michael Szenberg
PART III: THE GENERAL THEORY AND FRIEDMAN, KALDOR, MARX AND SRAFFA
9. The Right Kind of an Economist: Friedman’s View of Keynes
Roger E. Backhouse and Bradley W. Bateman
10. Keynes after Sraffa and Kaldor: Effective Demand, Accumulation and Productivity Growth
Alcino F. Camara-Neto and Matías Vernengo
11. The General Theory, Marx, Marxism and the Soviet Union
Gilles Dostaler
PART IV: THE GENERAL THEORY AND NEW INTERPRETATIONS
12. The General Theory: Seventy-Five Years Later
Omar F. Hamouda
13. Money’s Endogeneity, Keynes’s General Theory and Beyond
Louis-Phillippe Rochon
14. Interest and Profit
John Smithin
15. Keynes after 75 Years: Rethinking Money as a Public Monopoly
L. Randall Wray
Index
