This book assesses major schools of thought in macroeconomic theory between the Great Depression and the Long Recession, focusing on their analysis of cycles, crises and macro-policy. It explores the road from the dominance of Keynesian ideas to those of New Classical Macroeconomics (NCM) toward...

Chapter 1. Keynes’s Lakatosian Scientific Research Programme (SRP) as Outlined in The General Theory of Employment, Interest and Money (1936) -- Part I Keynes: The Meaning of Background: 1883-1910 -- Chapter 2. Keynes’s intellectual debts and the ‘Locke Connection’ -- chapter 3....

Introduction, Keynes’s Own IS-LM Approach -- Prologue to Keynes’s IS-LM, 1930 to 1932 -- The Advent of Keynes’s IS-LM, 1933 -- “The Missing Link”: Keynes’s Own Lecture Notes, December 4, 1933, Impact and Implications -- Reconstructing Keynes’s IS-LM Approach, 1931 to 1937 --...

Volume I -- 1 Cambridge, That Was: The Crucible of Heterodox Economics -- 1.1 The Narrative -- 1.2 Evolutions and Revolutions -- 1.2.1 The Great Banyan of Heterodox Traditions -- 1.2.2 Cohorts -- 1.2.3 The Cambridge Habitat -- 1.2.4 Which Cambridge? -- 1.3 Regime Change -- 1.3.1 The World of...

Chapter 1: Introduction: Luigi L. Pasinetti—A Leading Scholar of the Second Generation of the Cambridge School of Keynesian Economics -- Part I: Life and Research Activity of Luigi L. Pasinetti -- Chapter 2: Youth at Zanica, Bergamo, and Academic Studies at the Catholic University of Milan,...

Introduction -- Why Are Standard Micro-foundations Wrong? -- Statistical Physics and Macroeconomics -- Stochastic Macro-Equilibrium: A Micro-foundation of Keynesian Economics -- The Business Cycle: The Role of Aggregate Demand -- Demand Saturation and Economic Growth ―― Where Keynes and...

Chapter 1. Market Mechanism: Stabilizing or Destabilizing?- Chapter 2. Artificial Wicksell–Keynes Model 3 Agent’s Behaviors -- Chapter 4. Steady State Equilibrium -- Chapter 5. Parameter Tuning for Baseline -- Chapter 6. Simulation Results and Discussions -- Chapter 7. The Mechanism of...

The economy of the 21st century in the OECD countries and in China, is characterized by a new phenomenon: the structural surplus of private savings in relation to private investment. On the one hand, this excess saving is due to people's increasing inclination to save in light of rising life...

This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the...