This unique book focuses on the central issues in macroeconomics - examining some of the lively theoretical controversies troubling contemporary economists - in order to establish a genuine basis for communication between the alternative theoretical traditions.The past two decades have witnessed the emergence of several competing approaches to macroeconomic analysis: post Keynesian economics, Kaleckian analysis, neo-Ricardian theory, the neo-Austrian school, the Rational Expectations School etc. This book presents new work by 14 respected economists from nine different countries who address a series of unresolved yet well-defined issues in monetary theory and policy, market structure and accumulation, and problems of effective demand and the theory of distribution. The main purpose of Macroeconomic Theory is to identify areas of common ground among the various theoretical approaches. The excitement of that dialogue and the intellectual vitality generated are captured for the reader in a volume that will be essential for an understanding of modern macroeconomic theory.