Macroeconomic theory of the monetary economy

Author: Liu Xin
Publisher:
Publish Date: 2006-05-01
Features: This book starts with Keynes's economic theory works, striving to deeply understand and grasp the original ideas. Based on a re-explanation of Keynesian economics, it involves some theoretical debates surrounding Keynes and post-Keynesian economics, aiming to propose a theoretical analysis framework that differs from the current mainstream neoclassical theory in Western economics. It attempts to elaborate on a monetary economic theory that does not have a strict separation between monetary variables (nominal variables) and real variables, the "dualism." The book systematically elaborates on: the development of Keynesian economic thought, consumption and production in traditional theory, the determination of Keynesian investment and savings, Say's Law's explanation of savings and investment, and Keynesian price theory. The core of this book lies in the fact that the foundation of macroeconomics is based on money or a money-based production function, rather than the technology-based or technology-relationship-based real production function that mainstream neoclassical theory promotes. The purpose of this book is to restate the essential principles of Keynesian theory, and on this basis, argue for the macroeconomic theory of Keynesian monetary theory.