Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years. It shows that in recent years a convergence has taken place, with modern models embodying a Keynesian transmission mechanism, monetarist policy implication, and...

Intro -- CONTENTS -- Preface -- Chapter 1. At Inception -- Chapter 2. The Great Depression -- The Prelude to Disaster -- The Speculative Bubble -- The Great Crash -- The Aftermath -- GNP and the Downward Trade Spiral -- Keynes's Academic Precursors -- Keynes's Policy Suggestions -- Chapter 3....