This book explores key economic problems and new policies for the global economy of the 21st century. The contributors discuss to what extent past policy errors were due to the incompetence of policymakers, and highlight problems including: international payments imbalances and currency crises,...

This paper presents a model of the macroeconomy that reformulates what I take to be two important ideas from Keynes General Theory. The first is that there may be a continuum of steady state unemployment rates. The second is that beliefs select an equilibrium. I argue that search and matching...

"The author argues that Margaret Thatcher's free-market arguments highlighted the economic shortcomings of Keynesianism and socialism and paved the way for a significant realignment of the Conservative Party and re-thinking of British economics."