A01=James C.W. Ahiakpor
asset
Austrian economics
Author_James C.W. Ahiakpor
Category=KCB
Central Bank Money
classical macroeconomic theory disputes
Classical Macroeconomics
Classical Quantity Theory
Consumption Spending
depository
economic growth models
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eq_business-finance-law
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eq_isMigrated=2
eq_nobargain
eq_non-fiction
Excess Demand
Excess Supply
financial
full employment debate
High Powered Money
institution
interest
Interest Rate Determination
interest rate theory
Intermediate Macroeconomics Textbooks
Investment Spending
Keynes's Claim
Keynes's Failure
Keynesian critique
Keynesian Multiplier
Keynes’s Claim
Keynes’s Failure
level
Lm Curve
Loanable Funds Theory
Marginal Efficiency
Marshall's Statements
Marshall’s Statements
modern
Modern Macroeconomics
monetary policy analysis
Multiplier Argument
price
Price Level Determination
Quantity Theory
rate
Ricardo Works
smith
Smith WN
Time Preference Theory
Vice Versa
Product details
- ISBN 9780415771108
- Weight: 640g
- Dimensions: 156 x 234mm
- Publication Date: 01 Aug 2006
- Publisher: Taylor & Francis Ltd
- Publication City/Country: GB
- Product Form: Paperback
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John Maynard Keynes failed to correctly interpret classic economic concepts, and dismissed the classical explanations and conclusions as being irrelevant to the world in which we live. The trauma of the Great Depression and Keynes's changed definition of economic concepts, aided by Eugen Böhm-Bawerk, have made it difficult for modern economists to fully appreciate the classical insights.
This outstanding book clarifies the classical explanations to resolve the continuing theoretical and policy disputes. Key chapters include:
- On the Definition of Money
- Keynes's Misinterpretation of the Classical Theory of Interest
- The Classical Theory of Growth and Keynes's Paradox of Thrift
- The Mythology of the Keynesian Multiplier
This unique book demonstrates that it is Keynes's understanding of some fundamental classical economic concepts which is at fault, and extends its analysis to other modern contributions in macroeconomics.
Professor James Ahiakpor teaches economics at the California State University, Hayward, and was Department chair, 1994-2000. His restatements of classical macroeconomics have appeared in the History of Political Economy, Southern Economic Journal, Journal of the History of Economic Thought, American Journal of Economics and Sociology and Indepedent Review . He contributed to and edited Keynes and the Classics Reconsidered (1998)
