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...

While the causes of the collapse of cooperation in maintaining the international gold standard are subject to debate (the lack of a dominant central bank to coordinate global monetary policy versus the nonreflection of disparate inflation rates in exchange rate parities, for example), there is...