"This volume focuses on current issues of debate in the area of modern macroeconomics and money, written from (a broadly interpreted) post Keynesian perspective. The papers connect with Philip Arestis' contributions to macroeconomics and money, and pay tribute to his distinguished...

1. Introduction -- 2. European money and culture before 1914 -- 3. The 1920s: Lessons from Weimar -- 4. The Jazz Age: America in the 1920s -- 5. The money-haters: experiments in socialism -- 6. Europe between the world wars: a ferment of ideas -- 7. How Europe’s culture kept money under...

The financial crisis of 2007 and the following recession present a major challenge to macroeconomic theory. The same holds true for exceptionally low interest rates during the recent years and for the puzzle that super-expansive monetary policies failed to produce high inflation. Approaches that...

Beginning with an assessment of new thinking in macroeconomics and monetary theory, this book suggests that many countries have adopted the New Consensus Monetary Policy since the early 1990s in an attempt to reduce inflation to low levels. It goes on to illustrate that the explicit control of...