Keynesian Revolution and Its Critics: Issues of Theory and Policy for the Monetary Production Economy (Keynesian Studies)

Embark on a profound exploration of economic thought with "Keynesian Revolution and Its Critics: Issues of Theory and Policy for the Monetary Production Economy (Keynesian Studies)" by Gordon A. Fletcher. This seminal work, now in its 2nd edition, delves deep into the heart of Keynesian economics and its lasting impact on modern economic policy. Published in 1989 by Palgrave Macmillan, this book isn't just a historical account; it's a rigorous analysis that remains relevant in today's complex economic landscape. Fletcher expertly navigates the intricacies of Keynes's revolutionary ideas, dissecting the core tenets of Keynesian economics and contrasting them with the critiques leveled against them. Readers gain a thorough understanding of the Keynesian perspective on monetary production economies, including its emphasis on aggregate demand, government intervention, and the role of expectations in shaping economic outcomes. This book doesn't shy away from controversial issues. Fletcher fearlessly examines the challenges and limitations of Keynesian policies, providing a balanced and nuanced assessment. He meticulously analyzes the arguments of prominent critics, fostering a comprehensive understanding of the debates that have shaped economic discourse for decades. Key areas explored likely include: * **The role of money and interest rates in stimulating economic activity.** Discover how Keynesian economics views monetary policy as a crucial tool for managing demand and combating recessions. * **The effectiveness of fiscal policy in stabilizing the economy.** Explore the debates surrounding government spending and taxation as mechanisms for influencing aggregate demand. * **The implications of Keynesian policies for inflation and unemployment.** Understand the trade-offs and challenges associated with achieving full employment while maintaining price stability. * **The long-run versus the short-run perspectives in economic policy.** Delve into the famous Keynesian dictum, "In the long run, we are all dead," and its implications for policy decisions. * **The impact of globalization and financial innovation on the relevance of Keynesian economics.** Explore how these developments have challenged and reshaped the application of Keynesian principles. "Keynesian Revolution and Its Critics" is more than just a textbook; it's an invitation to engage with the fundamental questions that continue to shape economic policy. Whether you're a student, a researcher, or a policy maker, this book offers invaluable insights into the enduring legacy of Keynesian economics and its ongoing relevance in the 21st century. Given the book's publication date, its continued availability and focus suggest it is a key and central piece of understanding for advanced economic study. This paperback edition allows for easier access to this important text. Understand the past, present, and future of economic theory with this essential resource.