Keynes, Coordination, and Beyond: The Development of Macroeconomic and Monetary Theory Since 1945 Harry Garretsen

ISBN: 9781852786205

Published: June 28th 1992

Hardcover

240 pages


Description

Keynes, Coordination, and Beyond: The Development of Macroeconomic and Monetary Theory Since 1945  by  Harry Garretsen

Keynes, Coordination, and Beyond: The Development of Macroeconomic and Monetary Theory Since 1945 by Harry Garretsen
June 28th 1992 | Hardcover | PDF, EPUB, FB2, DjVu, AUDIO, mp3, RTF | 240 pages | ISBN: 9781852786205 | 5.28 Mb

This book proposes that the coordination problems lies at the heart of Keynes economics and argues that Keynes message got lost in the post-war period. The text develops an extension of Keynes ideas within a general equilibrium framework andMoreThis book proposes that the coordination problems lies at the heart of Keynes economics and argues that Keynes message got lost in the post-war period. The text develops an extension of Keynes ideas within a general equilibrium framework and within alternative frameworks such as Austrian economics.

It is demonstrated that in the absence of a co-ordinating device like the Walrasian auctioneer or in the presence of uncertainty, co-ordination can no longer be superimposed. This ultimately implies that apart from some notable exceptions, the Keynesian revolution was in fact stifled at birth because the validity of the central concepts of microeconomics have never been challenged.



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