The Great Financial Crisis: Causes and Consequences, by John Bellamy Foster and Fred Magdoff

摘要

During the Great Depression, what passed for macroeconomic theory was an analysis that concluded that an extended depression was impossible so long as prices, wages, and interest rates were flexible. John Maynard Keynes wrote The General Theory of Employment, Interest and Money to replace this analysis, thereby launching a revolution in economic theory and policy. His analysis created macroeconomics as a separate area of study and also justified government interventionist policies.