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On Interpreting Keynes : A Study in Reconciliation - Bruce Littleboy

On Interpreting Keynes

A Study in Reconciliation

Hardcover Published: 7th March 1991
ISBN: 9780415044752
Number Of Pages: 352

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The publication of Keynes' "General Theory" in 1936 caused a revolution in economics but, as with most revolutions, its meaning has been contested ever since. In particular, two major schools criticizing the common textbook interpretations of Keynes have emerged, the "fundamentalist" and the "reductionist" (or Clower-Leijonhufvud) factions.
It has long been accepted that these two major schools of criticism are irreconcilable, but this book refutes that position. It argues that a close reading of the key texts of both factions reveals that they disagree through misunderstandings and differences of emphasis rather than through fundamental differences of opinion. The book illustrates their agreement by a careful examination of both schools' positions on the connected topics of unemployment, demand, interest rates, and expenditure. Throughout, the schools are consistent in their emphatic acknowledgement that markets do not function reliably, and this is the starting point from which their positions can be synthesized.

Introduction
Leijonhufvud on Employment and Effective Demand
Involuntary Unemployment in the History of Economic Thought
Effective Demand: A Theoretical and Historical Perspective
IS-LM and the Interest-Rate Dynamics
On Bootstraps and Traps
Expenditure and Interest Rate
Recovery in the Long Run
Conventions
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780415044752
ISBN-10: 0415044758
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 352
Published: 7th March 1991
Country of Publication: GB
Dimensions (cm): 22.23 x 14.61  x 2.54
Weight (kg): 0.58
Edition Number: 1

Earn 917 Qantas Points
on this Book

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