The themes of this important new volume were chosen to mark the 75th anniversary of the publication of The General Theory of Employment, Interest and Money. The distinguished authors concentrate on the relevance of this seminal publication for macroeconomic theory, method and the politics of today. This is particularly pertinent as similarities with the 1930s are striking in terms of unemployment, low growth, financial fragility and the European monetary union resembling the gold standard.
Illustrating new ways of understanding the importance of uncertainty in macroeconomics, particularly in view of the importance of finance and balance of payments imbalances within a monetary union, this book will prove a stimulating and challenging read for academics, researchers and students of macroeconomics, heterodox economics, and the methodology and history of economic thought.
Edited by Jesper Jespersen, Professor of Economics, Roskilde University, Denmark and Mogens Ove Madsen, Associate Professor of Economics, Aalborg University, Denmark
Contents: Introduction Jesper Jespersen and Mogens Ove Madsen 1. The General Theory: A Neglected Work?! M.G. Hayes 2. The Final Death and Next Life of Maynard Keynes James Galbraith 3. The Crisis in Macro and the Limitations of the Economics of Keynes - or Why the Master will not Return Unless his General Theory is Dressed up in Neo-modern Clothes Teodoro Dario Togati 4. Keynes on Method: Is Economics a Moral Science? Michael Laine 5. A New Methodological Approach to Economic Theory: What I Have Learnt from 30 Years of Research on Keynes Anna Carabelli 6. Keynes's Early Cognition of the Concept of Time Mogens Ove Madsen 7. When Keynes and Minsky Meet Mandelbrot. . . Stefan Voss 8. Keynes's General Theory After 75 Years: Time to Re-read and Reflect Jesper Jespersen 9. The General Theory After the Sub-prime Crisis: A Minskyan Perspective Elisabetta De Antoni 10. Keynes's Views in Financing Economic Growth: The Role of Capital Markets in the Process of Funding Noemi Levy-Orlik 11. Nothing Learned from the Crisis? Some Remarks on the Stability Programmes 2011-2014 of the Euro Area Governments Gregor Semieniuk, Till van Treeck and Achim Truger 12. European Economic Policy and the Problem of Current Account Imbalances: The Case of Germany and Spain Jorge Uxo, Jesus Paul and Eladio Febrero Index