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Author: James C.W. Ahiakpor Publisher: Springer Science & Business Media ISBN: 9780792381495 Category : Business & Economics Languages : en Pages : 234
Book Description
Keynes and the Classics Reconsidered is a collection of scholarly work re-evaluating Keynes's revolution in economic thought, both in the method of macroeconomic reasoning and in policy-making. This book brings together mostly a younger generation of economists to revisit Keynes's interpretation of the classics and its impact on macroeconomic theory and policy. There has been a considerable advance in the literature re-interpreting the classics and the early neoclassical economists. Most of the contributing authors have themselves been active participants in this reinterpretation. The participation of Robert Clower, an active participant in the Keynes versus the classics debate since the 1960s, brings a particularly significant retrospective to this fresh look at the record. Keynes and the Classics Reconsidered will be of interest to policy-makers and economists, especially those working in the areas of macro and monetary economics.
Author: James C.W. Ahiakpor Publisher: Springer Science & Business Media ISBN: 9780792381495 Category : Business & Economics Languages : en Pages : 234
Book Description
Keynes and the Classics Reconsidered is a collection of scholarly work re-evaluating Keynes's revolution in economic thought, both in the method of macroeconomic reasoning and in policy-making. This book brings together mostly a younger generation of economists to revisit Keynes's interpretation of the classics and its impact on macroeconomic theory and policy. There has been a considerable advance in the literature re-interpreting the classics and the early neoclassical economists. Most of the contributing authors have themselves been active participants in this reinterpretation. The participation of Robert Clower, an active participant in the Keynes versus the classics debate since the 1960s, brings a particularly significant retrospective to this fresh look at the record. Keynes and the Classics Reconsidered will be of interest to policy-makers and economists, especially those working in the areas of macro and monetary economics.
Author: James C.W. Ahiakpor Publisher: Routledge ISBN: 1134742037 Category : Business & Economics Languages : en Pages : 278
Book Description
John Maynard Keynes failed to correctly interpret classic economic concepts, and dismissed the classical explanations and conclusions as being irrelevant to the world in which we live. The trauma of the Great Depression and Keynes's changed definition of economic concepts, aided by Eugen Bhm-Bawerk, have made it difficult for modern economists to
Author: James C W Ahiakpor Publisher: Routledge ISBN: 1000360415 Category : Business & Economics Languages : en Pages : 180
Book Description
Macroeconomic Analysis in the Classical Tradition explains how the influence of Keynes’s macroeconomics, including his changed definitions of some key macroeconomic concepts, has impeded many analysts’ ability to readily resolve disputes in modern macroeconomics. Expanding on his earlier work—Macroeconomics without the Errors of Keynes (2019)—the author delves into more aspects of macroeconomic theory and argues for a revision of Keynes’s contribution to the field. Attention is given to theories and concepts such as Say’s Law, the quantity theory of money, the liquidity trap, the permanent income hypothesis, 100% money, and the Phillips curve analysis. The chapters work to build a careful critique of Keynes’s economics and make the case that the classical macroeconomics of Smith, Say, Ricardo, Mill, and others could help resolve present-day policy disagreements and redefine macroeconomic priorities. This book provides essential reading for advanced students and scholars with an interest in the foundations of Keynes’s theories and current debates within macroeconomic policy.
Author: Victoria Chick Publisher: Cambridge, Mass. : MIT Press ISBN: 9780262530453 Category : Business & Economics Languages : en Pages : 374
Book Description
This reassessment of J. M. Keynes's The General Theory of Employment, Interest and Money results from the author's experience in using Keynes's book as the core of her macroeconomics courses for undergraduates. It is intended to encourage others to bring the General Theory back into mainstream teaching, because it "gives a far richer understanding of the structure of macroeconomic interactions and methods of analysing them than much of what has been written since."Victoria Chick is Lecturer in Economics at University College, London.
Author: James C. W. Ahiakpor Publisher: Routledge ISBN: 1317217845 Category : Business & Economics Languages : en Pages : 230
Book Description
Modern macroeconomics is in a stalemate, with seven schools of thought attempting to explain the workings of a monetary economy and to derive policies that promote economic growth with price-level stability. This book pinpoints as the source of this confusion errors made by Keynes in his reading of classical macroeconomics, in particular the classical Quantity Theory and the meaning of saving. It argues that if these misunderstandings are resolved, it will lead to economic policies consistent with promoting the employment and economic growth that Keynes was seeking. The book will be crucial reading for all scholars with an interest in the foundations of Keynes’s theories, and anyone seeking to understand current debates regarding macroeconomic policy-making.
Author: James C.W. Ahiakpor Publisher: Routledge ISBN: 1134742045 Category : Business & Economics Languages : en Pages : 273
Book Description
The Great Depression and Keynes's definition of economic concepts made it difficult for modern economists to appreciate the classical insights. This book clarifies the classical explanations to resolve the continuing disputes.
Author: Masayuki Otaki Publisher: Springer ISBN: 4431559159 Category : Business & Economics Languages : en Pages : 98
Book Description
This book reconsiders Keynes’s The General Theory of Employment, Interest and Money and establishes a new interpretation. In contrast to the existing models, this book finds that the stickiness in the nominal wage is not crucial for his theory. Moreover, the author has also succeeds in capturing the concept of liquidity in a rigorous mathematical model. In conjunction with the development of the concept of liquidity, the separation of the decision between savings and capital investment, which plays a key role in the principle of effective demand and denies Say’s law, is exactly and originally formulated. The theory thus developed is applicable to elucidating some serious political economic causes that entrap the long-stagnated Japanese economy. For example, an analytical explanation is provided about why disinflation/deflation incessantly progresses despite the exorbitant expansionary monetary policy (ijigen kin-yuu seisaku) by the Bank of Japan. This phenomenon is an unsolvable question from the quantity-theoretic approaches (e.g., monetarism and new Keynesianism) which, although they differ in assumptions concerning the length of adjustment periods, commonly assume that the price level sooner or later rises in proportion to the quantity of money. Owing much to Keynes, the author’s approach considers that the price level is mainly governed by its marginal prime cost which is equal to the nominal wage as a first approximation. As such, the drastically sagging wages during the past 10 years provoke serious disinflation/deflation. It should be noted that this discussion never depends on the quantity of money.
Author: Axel Leijonhufvud Publisher: ISBN: Category : Biography & Autobiography Languages : en Pages : 60
Book Description
This publication comprises a reappraisal of the work of John Maynard Keynes. It strengthens the view that the Keynesians went too far in supposing that the old economics had been overthrown by the new, and in a sense it rehabilitates both classical economics in a modern form and also Keynes as a theorist who added an important development to it, although the 'Keynesian Revolution' began and stayed on the wrong track partly because of Keynes's polemical presentation. Issues discussed include the multiplier; unemployment and effective demand; the saving-investment problem; and fiscal policy.
Author: Fiona MacLachlan Publisher: Routledge ISBN: 1134896808 Category : Business & Economics Languages : en Pages : 292
Book Description
In Keynes' General Theory of Interest Fiona Maclachlan rehabilitates the largely discredited liquidity preference theory of interest, providing an original and rigorously reasoned restatement of the theory. Her provocative book draws on the methodological tenets of the Austrian school and is grounded firmly both in the history of economic thought and in real world economic institutions.
Author: Michel Verdon Publisher: Routledge ISBN: 113476961X Category : Business & Economics Languages : en Pages : 247
Book Description
Is there a language which is adequate to describe our own economy? In this volume, Michel Verdon undertakes a path-breaking analysis of the three major paradigms in economics: Marxian economics, neo-classical economics and Keynesian economics. Each of these, he argues, has an inherent cosmology, and in the case of both Marxian and neo-classical economics these preclude the development of a language which can accurately describe and analyse an economy.
Author: James C.W. Ahiakpor
Author: James C.W. Ahiakpor
Author: James C.W. Ahiakpor
Author: James C W Ahiakpor
Author: Victoria Chick
Author: James C. W. Ahiakpor
Author: James C.W. Ahiakpor
Author: Masayuki Otaki
Author: Axel Leijonhufvud
Author: Fiona MacLachlan
Author: Michel Verdon