Keynes Betrayed: The General Theory, the Rate of Interest and 'Keynesian' Economics

Paperback | December 15, 2010

byGeoff Tily

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This book argues that Keynesian economists have betrayed Keynes' theory and policy conclusions, and that the world has been misled about those policies. Keynesians have focused attention on policies for dealing with effects of economic failure as they arise, whereas Keynes was concerned with the cause and then the prevention of economic failure.

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This book argues that Keynesian economists have betrayed Keynes' theory and policy conclusions, and that the world has been misled about those policies. Keynesians have focused attention on policies for dealing with effects of economic failure as they arise, whereas Keynes was concerned with the cause and then the prevention of economi...

GEOFF TILY works as an Economist at the Office for National Statistics, UK. He has been a member of the Government Statistical Service since 1989. He did his MSc in Economics at University College London and a PhD under the supervision of Victoria Chick.

other books by Geoff Tily

Format:PaperbackDimensions:360 pages, 8.58 × 5.47 × 0.83 inPublished:December 15, 2010Publisher:Palgrave MacmillanLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0230277012

ISBN - 13:9780230277014

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Table of Contents

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

Editorial Reviews

'…such an important book…not merely another book on the history of Keynes's monetary thought. It provides compelling evidence of where 'Keynesians' of all shades have gone wrong and simultaneously provides them with the ammunition to generalize what passes for modern monetary theory and macroeconomics. It enables macroeconomists to put Keynes back into Keynesian economics.' - Colin Rogers, University of Adelaide, Australia'This is an extraordinary book and a major and significant contribution to Post-Keyensian literature.' - Jan Toporowski, School of African and Oriental Studies, University of London, UK'Above all, this book is a good read, which may achieve that rare combination of a high level of scholarship with relevance to the policy advisor.' - Mark Hayes, University of Cambridge, UK