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.
Beginning with a re-evaluation of mercantilism, this volume continues with papers on stoicism in the work of Adam Smith, Smith's use of the word natural, a game-theoretical evaluation of the Theory of Moral Sentiments and Wealth of Nations, ...
This collection of essays invites the reader to trace the intellectual journey of the author from his early incisive exploration and critique of key categories in Marxian economics, through his insights into classical economic theory, ...
Classical Economic Growth: An Analysis in the Tradition of Adam Smith
The essays in this collection argue that this classical approach holds the key to an explanation of important present-day economic phenomena.
This book will definitely play an important role of reviving classical micro- and macroeconomic dynamics. Willi Semmler, New School University, New York This book is a must-read.
D. López-Salido (2005), 'Robustness ofthe estimates ofthe hybrid New Keynesian Phillips curve', Journal ofMonetary Economics, 52, 1107–18. Galor, O. and J. Zeira (1993), 'Income distribution and macro-economics', Review of Economic ...
The Archaeology of Economic Ideas: The Classical Greek Tradition
Contents: 1. Keynes and the Classics 2. The First Neoclassical Synthesis 3. Model-Consistent Expectations 4. The Micro-Foundations of Modern Macroeconomics 5. The Challenge of New Classical Macroeconomic 6. The New Neoclassical Synthesis 7.
This is only the focal point of a rich and attractive canvas. How I wish this book had been available when I taught methodology! And how I wish economists from all schools of thought would read it!
This book should therefore appeal to everybody who is interested in the methodology of economics and in exploring the boundaries of economic analysis.