Macroeconomic Theory of a Monetary Economy: Keynesian Economics

Author: Liu Xin. Chen Xiang
Publisher:
Publishing Time: Not available
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 about Keynes and post-Keynesian economics, aiming to propose a theoretical analysis framework different from the current mainstream neoclassical theory in Western economics. It attempts to elaborate a monetary economic theory that does not have a strict separation between monetary variables (nominal variables) and real variables in the "dualism." The book systematically explains: the development of Keynesian economic thought, consumption and production in traditional theory, Keynes's determination of investment and savings, Say's Law's explanation of savings and investment, and Keynes's price theory, among other topics. 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 or technology-based real production function that mainstream neoclassical theory promotes. The purpose of this book is to restate the original essence of Keynesian theory and, on this basis, argue for the macroeconomic theory of Keynesian monetary theory.