Macroeconomic Analysis in the Classical Tradition The Impediments Of Keynes’s Influence Routledge Studies in the History of Economics Series
Auteur : Ahiakpor James C W
Macroeconomic Analysis in the Classical Tradition explains how the influence of Keynes?s macroeconomics, including his changed definitions of some key macroeconomic concepts, has impeded many analysts? ability to readily resolve disputes in modern macroeconomics.
Expanding on his earlier work?Macroeconomics without the Errors of Keynes (2019)?the author delves into more aspects of macroeconomic theory and argues for a revision of Keynes?s contribution to the field. Attention is given to theories and concepts such as Say?s Law, the quantity theory of money, the liquidity trap, the permanent income hypothesis, 100% money, and the Phillips curve analysis. The chapters work to build a careful critique of Keynes?s economics and make the case that the classical macroeconomics of Smith, Say, Ricardo, Mill, and others could help resolve present-day policy disagreements and redefine macroeconomic priorities.
This book provides essential reading for advanced students and scholars with an interest in the foundations of Keynes?s theories and current debates within macroeconomic policy.
(1) Introduction: The Pervasive Impediment of Keynes’s Influence in Modern Macroeconomic Analysis (2) Interpreting Say’s Law of Markets or Outlets Correctly: The Impediments of Keynes’s Influence (3) Could Keynes have made a Legitimate Case against John Stuart Mill’s Statement of the Law of Markets? An Illustration of Keynes’s Abiding Influence (4) Saving and the Relevant Ricardian Equivalence Theorem (5) Milton Friedman’s Permanent Income Hypothesis: A Distraction from Keynes’s Misrepresentation of Saving as Non-spending (6) The Classical Heritage of Monetary Theory and Policy at Chicago and Harvard before the Keynesian Conquest (7) 100% Money: A Harmful Proposal Appropriately Ignored (8) Keynes’s Liquidity Trap is Impossible: Classical Monetary Analysis Helps to Explain (9) The Classical Roots of the Phillips Curve Analysis (10) The Future of Keynesian Economics: Struggling to Sustain a Dimming Light (11) Conclusion: Some Policy Implications of Ridding Macroeconomics of Keynes’s Influence
James C. W. Ahiakpor is Emeritus Professor of Economics at California State University East Bay, Hayward, USA.
Date de parution : 09-2022
15.6x23.4 cm
Date de parution : 03-2021
15.6x23.4 cm
Thème de Macroeconomic Analysis in the Classical Tradition :
Mots-clés :
Federal Reserve; Keynes; Classical Quantity Theory; macroeconomics; Central Bank Money; quantity theory of money; Checkable Deposits; full employment; Federal Reserve System; Say's law; Cash Hoarding; liquidity trap; Keynes’s Claims; Phillips curve; Nominal Wage Rates; income hypothesis; Friedman’s Permanent Income Hypothesis; saving; Phillips Curve Analysis; reserve banking; Money’s Demand Curve; Check Book Money; PIH; Fixed Income Earners; Future Tax Liabilities; Short Run Phillips Curve; Relative Income Hypothesis; Antidepression Policy; Checkable Deposit Account; Fractional Reserve Banking System; Interallied Debts; Increased Government Debt; Inter-allied Debts; Gdp Deflator