Resumen del libro

Reseña: This book argues that Keynesian economists have betrayed Keynes' theory and policy conclusions. Keynesian economics has not merely led to an easily dismissed justification for 'Keynesian' policies, but the world has been grossly misled about just what those policies are. Keynesians have focused attention exclusively on policies for dealing with effects of economic failure as they arise, whereas in contrast, Keynes was concerned with the cause and then the prevention of economic failure. While these effects can be addressed with fiscal policy, the cause and prevention was a matter for monetary policy. Keynes' legacy is that of national and international policy measures that permit the necessary control over the financial system.

---

indice: Acknowledgements
Introduction
PART I: HISTORY
Monetary Economics and Monetary Policy
JMK and the Fourth Grand Monetary Discussion
The Origins of Keynesian Economics
PART II: THEORY
The Saving-Investment Identity and the Transition to the General Theory

The Theory of Liquidity Preference and Debt Management Policy
The Monetary Theory of Real Activity
PART III: MACROECONOMICS AFTER KEYNES
Keynes's Response to Keynesian Economics
The Keynesian Counter-Revolution and Thereafter
The General Theory and the 'Facts of Experience'
Conclusion
Bibliography

---