The relative decline of the British economy -- Wicksell's influences on Keynes and his contemporaries -- The life of Keynes -- From the tract to the treatise -- The treatise on money -- After the treatise -- The turning point -- Searching for a new theory of employment -- Establishment of the...

Our findings indicate that Keynes reached a turning point towards the end of 1932, meaning by this not his establishment of the theory determining the level of employment (or output), but his construction of a new model which we refer to as ‘Model 1’ below. The crucial evidence comes from...

The global financial crisis, which began in August 2007 and continues with no end in sight, has thrown macroeconomics into turmoil. This book challenges the current mainstream macroeconomic tradition, rejecting the view that whatever shock hits the economy, the response is an automatic and rapid...