Classical Macroeconomics: Some Modern Variations and Distortions

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Routledge, 2003 M05 22 - 272 páginas
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 Bhm-Bawerk, have made it difficult for modern economists to

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Contenido

Introduction
1
The classical theory of value A foundation of macroeconomic analysis
7
On the definition of money Classical vs modern
29
The classical theories of interest the price level and inflation
57
Keyness misinterpretation of the classical theory of interest
79
The Austrians capital and the classical theory of interest
96
Wicksell on the classical theories of money credit interest and the price level
114
Fisher the classics and modern macroeconomics
133
Full employment Keyness mistaken attribution to the classics
158
Hicks the ISLM model and the success of Keyness distortions of classical macroeconomics
177
The mythology of the Keynesian multiplier
192
Conclusion
211
Notes
220
Bibliography
234
Index
245
Derechos de autor

The classical theory of growth and Keyness paradox of thrift
144

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Acerca del autor (2003)

Professor James Ahiakpor teaches economics at the California State University, Hayward, and was Department chair, 1994-2000. His restatements of classical macroeconomics have appeared in the History of Political Economy, Southern Economic Journal, Journal of the History of Economic Thought, American Journal of Economics and Sociology and Indepedent Review. He contributed to and edited Keynes and the Classics Reconsidered (1998)

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