In his 'New Guide' to The General Theory, Mark G. Hayes presents
Keynes's illustrious work as a sophisticated Marshallian theory of
the competitive equilibrium of the economy as a whole. This unique
book takes full account of the nature of time and money and
illustrates that The General Theory remains highly relevant to the
teacher and advanced student of modern macroeconomics. The
Economics of Keynes introduces several interpretative innovations
to resolve many puzzles presented in the literature of the last 70
years. It is designed to be read in parallel with The General
Theory and will allow modern readers to find their bearings before
plunging into an in-depth analysis of major themes contained in The
General Theory. The key areas in which this 'New Guide' differs
from the familiar exposition of current macroeconomics textbooks
are also explicitly identified. The author reaches positive and
hopeful conclusions for the development of economic theory and
policy. Promoting a thorough understanding of the legitimate domain
of equilibrium analysis and a renewed commitment to the possibility
of genuinely full employment, this book will provide an
illuminating and fascinating read for anyone wishing to appreciate
fully the value of The General Theory. More specifically, academics
and advanced students of macroeconomics across the board -
classical, orthodox, Post Keynesian and heterodox - interested in a
fresh attempt to connect The General Theory with modern
macroeconomics will find this book to be the ideal tool.
General
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