Money, Investment and Consumption: Keynes's Macroeconomics Rethought

摘要

At a time when much of what passes for Keynesian economics has little to do with Keynes's own theoretical contributions or policy prescriptions, books that aim to revive the Keynesian revolution are sorely needed. This work takes on this task by examining the progression of Keynes's ideas from the Treatise on Money to the General Theory, and by presenting what the author calls a "generalized General Theory" of Keynes. Its two-prong strategy involves explaining why the Keynesian revolution was derailed and providing an alternative to the conventional IS-LM model that stays true to Keynes's assumptions and theoretical claims.