Download or read book Raising Keynes written by Stephen A. Marglin and published by Harvard University Press. This book was released on 2020-07-14 with total page 921 pages. Available in PDF, EPUB and Kindle. Book excerpt: Back to the future: a heterodox economist rewrites Keynes's General Theory of Employment, Interest, and Money to serve as the basis for a macroeconomics for the twenty-first century. John Maynard Keynes's General Theory of Employment, Interest, and Money was the most influential economic idea of the twentieth century. But, argues Stephen Marglin, its radical implications were obscured by Keynes's lack of the mathematical tools necessary to argue convincingly that the problem was the market itself, as distinct from myriad sources of friction around its margins. Marglin fills in the theoretical gaps, revealing the deeper meaning of the General Theory. Drawing on eight decades of discussion and debate since the General Theory was published, as well as on his own research, Marglin substantiates Keynes's intuition that there is no mechanism within a capitalist economy that ensures full employment. Even if deregulating the economy could make it more like the textbook ideal of perfect competition, this would not address the problem that Keynes identified: the potential inadequacy of aggregate demand. Ordinary citizens have paid a steep price for the distortion of Keynes's message. Fiscal policy has been relegated to emergencies like the Great Recession. Monetary policy has focused unduly on inflation. In both cases the underlying rationale is the false premise that in the long run at least the economy is self-regulating so that fiscal policy is unnecessary and inflation beyond a modest 2 percent serves no useful purpose. Fleshing out Keynes's intuition that the problem is not the warts on the body of capitalism but capitalism itself, Raising Keynes provides the foundation for a twenty-first-century macroeconomics that can both respond to crises and guide long-run policy.
Download or read book The General Theory of Employment Interest and Money written by John Maynard Keynes and published by Springer. This book was released on 2018-07-20 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
Download or read book Finance Development September 2014 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2014-08-25 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.
Download or read book The Policy Consequences of John Maynard Keynes written by Wattel and published by Routledge. This book was released on 2017-07-28 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the history, contemporary practice, and policy issues of non-union employee representation in the USA and Canada. The text encompasses many organizational devices that are organized for the purposes of representing employees on a range of production, quality, and employment issues.
Download or read book Keynesian Economic Policies written by Alain Barrere and published by Springer. This book was released on 1990-06-18 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays is a plea for a renewal of policies based on the most fundamental ideas of Keynes as well as on recent developments in economic theory. The papers were first given at an international conference to commemorate the centenary of the birth of John Maynard Keynes.
Download or read book The Economics of John Maynard Keynes written by Dudley Dillard and published by Pickle Partners Publishing. This book was released on 2018-09-03 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of John Maynard Keynes: The Theory of Monetary Economy by Dudley Dillard seeks to make The General Theory of Employment, Interest and Money by John Maynard Keynes understandable to both the economist and to the non-economist. First published in 1948 and since translated into over 10 languages, Dr. Dillard’s book has been widely regarded as the seminal scholarship on the monetary aspects of Keynesian economics. In addition to explaining the economic theories of Keynes, Dillard also includes a chapter on Keynes’s philosophical development and the “social philosophy toward which it leads.” Throughout the book, Dillard provides summaries and examines Keynes’ concepts on employment, income, saving, marginal propensity to consume, the investment multiplier, fiscal policy, post-war inflation, interest, and wages.
Download or read book The Return to Keynes written by Bradley W. Bateman and published by Belknap Press. This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Keynesian economics has recently seen a rebirth, most dramatically illustrated when central banks pumped billions of dollars of liquidity into the world's financial system to address the crises of confidence, illiquidity, and insolvency triggered by the sub-prime lending crisis. The contributors assess this new era in economic policy making.
Download or read book The Economic Consequences of the Peace written by John Maynard Keynes and published by Simon Publications LLC. This book was released on 1920 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: John Maynard Keynes, then a rising young economist, participated in the Paris Peace Conference in 1919 as chief representative of the British Treasury and advisor to Prime Minister David Lloyd George. He resigned after desperately trying and failing to reduce the huge demands for reparations being made on Germany. The Economic Consequences of the Peace is Keynes' brilliant and prophetic analysis of the effects that the peace treaty would have both on Germany and, even more fatefully, the world.
Download or read book Keynes s General Theory the Rate of Interest and Keynesian Economics written by G. Tily and published by Springer. This book was released on 2016-01-12 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book argues that Keynesian economists have betrayed Keynes' theory and policy conclusions, and that the world has been misled about those policies. Keynesians have focused attention on policies for dealing with effects of economic failure as they arise, whereas Keynes was concerned with the cause and then the prevention of economic failure.
Download or read book A Modern Guide to Keynesian Macroeconomics and Economic Policies written by Eckhard Hein and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: This well-documented book will prove to be the essential guide for researchers and graduate students in macroeconomics and political economy. It will also prove inspiring to a wider audience interested in modern Keynesian macroeconomics.
Download or read book The Relevance of Keynesian Economic Policies Today written by Philip Arestis and published by Springer. This book was released on 1997-05-13 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: What can Keynesian economics mean in the 21st century? Do globalisation, inflationary pressures and supply-side constraints make managing demand in a domestic economy impossible? Or could its use to tackle unemployment be put back on the political agenda? These essays examine the potential relevance of Keynesian policies for Europe, America, the developing world and the global economy. There is no common definition, but Keynesianism is throughout seen as more than demand management, with policy proposals to promote investment, strengthen the supply-side and reduce uncertainty.
Download or read book Economic Policies and Great Depression written by Kelvin Molly and published by GRIN Verlag. This book was released on 2014-03-28 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2012 in the subject Economics - Monetary theory and policy, grade: B, King`s College London, language: English, abstract: The Great Depression resulted to the need to reexamine the economic policies that were being used by various government to control the economy. The use of market and private sector to control the economy without government intervention saw the increase in mass unemployment. Economic authorities considered adapting the various policies on monetary and fiscal to help regulate the issue. Economists like Keynes developed the Keynesian theory to help the government in correcting the great depression of 1930. Golden age of capitalism was a period of economic prosperity which happened towards the end of World War II in 1945 and lasted up to the 1970s. It was a period with high levels of employment rate and unprecedented economic trade. It was dominated by capitalism with free trade. It is also known as the post-world war II which in other ways can be regarded to as the postwar economic boom and the long boom or the age of the Keynes used to refer to the quarter century following the world war. This period ended with the collapse of the Bretton woods system in 1971, oil crisis 1973 and the stock market crash which occurred in 1974. The rise of monetarism school of thought with policies emphasizing the role of monetary aggregates in policy analysis including the distinction between nominal and real interest rates provided another view in regard to the Keynesian theory. This paper seeks to examine these key issues in the period of Great depression and thereafter.
Download or read book John Maynard Keynes written by P. Davidson and published by Springer. This book was released on 2017-05-17 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at the life of Keynes leading up to the writing of his seminal General Theory , examines the General Theory in detail, and explores how it differs from classical theory. The impact of Keynes's work on the economy postwar and up to the present day is also assessed.
Download or read book The Economic Consequences of the Peace written by John Maynard Keynes and published by . This book was released on 2018-11-06 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic Consequences of the Peace (1919) is a book written and published by the British economist John Maynard Keynes. After the First World War, Keynes attended the Paris Peace Conference of 1919 as a delegate of the British Treasury. In his book, he argued for a much more generous peace, not out of a desire for justice or fairness - these are aspects of the peace that Keynes does not deal with - but for the sake of the economic well-being of all of Europe, including the Allied Powers, which the Treaty of Versailles and its associated treaties would prevent.The book was a best-seller throughout the world and was critical in establishing a general opinion that the treaties were a "Carthaginian peace" designed to crush the defeated Central Powers, especially Germany. It helped to consolidate American public opinion against the treaties and against joining the League of Nations. The perception by much of the British public that Germany had been treated unfairly was, in turn, a crucial factor in later public support for the appeasement of Hitler.The success of the book established Keynes' reputation as a leading economist, especially on the left. When Keynes was a key player in establishing the Bretton Woods system in 1944, he remembered the lessons from Versailles as well as the Great Depression. The Marshall Plan, which was promulgated to rebuild Europe after the Second World War, was similar to the system proposed by Keynes in The Economic Consequences of the Peace. ....John Maynard Keynes, 1st Baron Keynes (5 June 1883 - 21 April 1946), was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. He built on and greatly refined earlier work on the causes of business cycles, and was one of the most influential economists of the 20th century. Widely considered the founder of modern macroeconomics, his ideas are the basis for the school of thought known as Keynesian economics, and its various offshoots.During the Great Depression of the 1930s, Keynes spearheaded a revolution in economic thinking, challenging the ideas of neoclassical economics that held that free markets would, in the short to medium term, automatically provide full employment, as long as workers were flexible in their wage demands. He instead argued that aggregate demand determined the overall level of economic activity and that inadequate aggregate demand could lead to prolonged periods of high unemployment. Keynes advocated the use of fiscal and monetary policies to mitigate the adverse effects of economic recessions and depressions. Keynes's magnum opus, The General Theory of Employment, Interest and Money, was published in 1936.The leading Western economies adopted Keynes's policy recommendations before the outbreak of World War II, and in the two decades following Keynes's death in 1946, almost all capitalist governments had done so. Keynes's influence waned in the 1970s, partly as a result of the stagflation that plagued the Anglo-American economies during that decade, and partly because of criticism of Keynesian policies by Milton Friedman and other monetarists. He and other economists had disputed the ability of government to regulate the business cycle favourably with fiscal policy.The advent of the global financial crisis of 2007-2008 caused a resurgence in Keynesian thought. Keynesian economics provided the theoretical underpinning for economic policies undertaken in response to the crisis by President Barack Obama of the United States, Prime Minister Gordon Brown of the United Kingdom, and other heads of governments.When Time magazine included Keynes among its Most Important People of the Century in 1999, it said that "his radical idea that governments should spend money they don't have may have saved capitalism." The Economist has described Keynes as "Britain's most famous 20th-century economist."
Download or read book The Commanding Heights written by Daniel Yergin and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Perspectives on Keynesian Economics written by Arie Arnon and published by Springer Science & Business Media. This book was released on 2010-11-29 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book combines historical and policy-oriented perspectives on the relevance of the Keynesian approach for economic theory, policy, and crisis analysis. The first part focuses on historical, theoretical, and methodological issues, and puts them in context with current developments. The second part focuses on the application of the Keynesian approach to modeling the economy, policy-making, and analyzing the ongoing crisis of the early 21st century. Bringing together contributions by leading macroeconomists such as Laidler, Cukierman, Colander and Boyer, and leading historians of economics such as Hollander, Boianovsky, Marcuzzo, Dimand, Witztum, Young, deVroey and Arnon, the book offers a comprehensive overview of Keynesian economics today. One of the book’s most essential features are the commentaries on the papers, which promote a cross-fertilization between macroeconomists and historians of economics, providing, in conjunction with the papers themselves, a balanced outlook on the current relevance of Keynesian economics.
Download or read book The Impact of Keynes on Economics in the 20th Century written by European Society for the History of Economic Thought. Conference and published by Edward Elgar Publishing. This book was released on 1999 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papers presented at a winter 1997 conference of the European Society for the History of Economic Thought reconsider the nature and significance of Keynes' theories and economic policies, and illustrate the diversity of Keynesianism in different European countries throughout the century. Main themes are Keynesian theory, Keynesian- type policies and theories throughout Europe, and how Keynesian policy has been used by government and non-governmental organizations in an attempt to deal with unemployment and deflation during the 20th century. Pasinetti is a professor of economics at Catholic University, Milan, Italy. Schefold is a professor of economics at Johann Wolfgang Goethe University, Frankfurt am Main, Germany. Annotation copyrighted by Book News, Inc., Portland, OR
