Description
Book SynopsisThis unique book focuses on the central issues in macroeconomics - examining some of the lively theoretical controversies troubling contemporary economists - in order to establish a genuine basis for communication between the alternative theoretical traditions.
The past two decades have witnessed the emergence of several competing approaches to macroeconomic analysis: post Keynesian economics, Kaleckian analysis, neo-Ricardian theory, the neo-Austrian school, the Rational Expectations School etc. This book presents new work by 14 respected economists from nine different countries who address a series of unresolved yet well-defined issues in monetary theory and policy, market structure and accumulation, and problems of effective demand and the theory of distribution.
The main purpose of Macroeconomic Theory is to identify areas of common ground among the various theoretical approaches. The excitement of that dialogue and the intellectual vitality generated are captured for the reader in a volume that will be essential for an understanding of modern macroeconomic theory.
Trade Review'This collection is a stimulus to the further development of post-classical political economy.' -- John Hillard, The Economic Journal
'The book's aim of providing a bridge "across" heterodox schools is undeniably a courageous undertaking. It would be quite easy to miss such an idealistic mark, but Mongiovi and Ruhl do not miss. While the text will be most useful to one steeped in the views of the schools in question, it does not preclude its use as a preliminary avenue into the subtleties of the various analyses in question. Our profession would certainly benefit from more economists willing to follow in these footsteps.' -- Michael C. Carroll, Review of Social Economy
