Expectations, Employment and Prices brings Keynesian economics into
the 21st century by providing a new paradigm that explains how high
unemployment could potentially persist forever without a little
help from the government. The book fills in logical gaps that were
missing from Keynes' General Theory of Employment Interest and
Money by reconciling some of its key ideas with modern economic
theory. Central bankers throughout the world are talking now about
developing a second instrument of monetary policy in addition to
controlling the interest rate. Roger Farmer directly addresses this
issue and offers new creative monetary policy proposals and
suggestions for the design of new financial institutions for the
21st century.
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