The Great Depression and Keynes's definition of economic concepts made it difficult for modern economists to appreciate the classical insights. This book clarifies the classical explanations to resolve the continuing disputes
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EBS Universität für Wirtschaft und Recht, Learning Center, Standort Wiesbaden, Fachbibliothek Rechtswissenschaften
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The Great Depression and Keynes's definition of economic concepts made it difficult for modern economists to appreciate the classical insights. This book clarifies the classical explanations to resolve the continuing disputes
Includes bibliographical references (p. [234]-243) and index
Electronic reproduction; Available via World Wide Web
Book Cover; Title; Contents; List of figures; Preface; Acknowledgments; Introduction; The classical theory of value: a foundation of macroeconomic analysis; On the definition of money: classical vs modern; The classical theories of interest, the price level, and inflation; Keynes's misinterpretation of the classical theory of interest; The Austrians, ""capital,"" and the classical theory of interest; Wicksell on the classical theories of money, credit, interest, and the price level; Fisher, the classics, and modern macroeconomics
The classical theory of growth and Keynes's paradox of thriftFull employment: Keynes's mistaken attribution to the classics; Hicks, the IS-LM model, and the success of Keynes's distortions of classical macroeconomics; The mythology of the Keynesian multiplier; Conclusion; Notes; Bibliography; Index
