Classical Macroeconomics: Some Modern Variations and Distortions
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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 B hm-Bawerk, have made it difficult for modern economists to fully appreciate the classical insights.
This outstanding book clarifies the classical explanations to resolve the continuing theoretical and policy disputes. Key chapters include:
On the Definition of Money Keynes's Misinterpretation of the Classical Theory of Interest The Classical Theory of Growth and Keynes's Paradox of Thrift The Mythology of the Keynesian MultiplierThis unique book demonstrates that it is Keynes's understanding of some fundamental classical economic concepts which is at fault, and extends its analysis to other modern contributions in macroeconomics.
Format:Hardcover
Language:English
ISBN:0415153328
ISBN13:9780415153324
Release Date:May 2003
Publisher:Routledge
Length:276 Pages
Weight:1.20 lbs.
Dimensions:0.7" x 6.1" x 9.2"
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