Meghnad Desai's work presents a significant challenge to economics as currently practised. This volume brings together a collection of essays on issues in macroeconomics and monetary theory from an unorthodox position. Beginning with a series of essays which address the inflation problem using an extension the Goodwin model, the volume continues with his revisionist interpretation of the Phillips Curve, assessments of monetarism, discussion of the economics of Keynes and Hayek, and an original paper on monetary theory. Later chapters include the author's work on applied econometrics, endogenous and exogenous money, and financial innovation. The volume also includes a substantial autobiographical preface, in which Lord Desai explains how he became an economist and the influences behind the development of his thought, as well as a specific introduction explaining how he came to produce the papers included in this volume. "Poverty, Famine and Economic Development", Volume II of Meghnad Desai's essays is also available.
Growth cycles and inflation in a model of the class struggle; the Phillips Curve - a revisionist interpretation; the task of monetary theory - the Hayek-Sraffa debate in a modern perspective; an econometric model of the share of wages in national income - UK 1855-1965; growth cycles with induced technical change; inflation, unemployment and monetary policy - the UK experience; monetary theory and monetary policy in the general theory; wages, prices and unemployment a quarter century after the Phillips Curve; a Keynesian macro-econometric model of the UK - 1955-1984; measuring the opportunity for product innovation; a Keynesian model for a post-monetarist open economy; profit and profit theory, endogenous and exogenous money; Kaldor between Hayek and Keynes, or - did Nicky kill capital theory?; incomes policy in a political environment - a structural model for the UK 1961-1980; value of money in a monetary economy.
Series: Economists of the Twentieth Century : Book 1
Tertiary; University or College
Number Of Pages: 336
Published: January 1995
Publisher: Edward Elgar Publishing Ltd
Country of Publication: GB
Dimensions (cm): 24.13 x 17.15
Weight (kg): 0.64