Keynesian Revolution and Its Critics

Part 1 Money in the economy: the institution of money - an introduction; the monetary economy; money, investment and saving - Keynes' crucial distinction, Say's Law in a monetary economy. Part 2 The Keynesian revolution and its critics - Robertsonian economics: Keynes' revolution; the Robertsonian critique; the principle of effective demand; Keynes' theory of investment and saving; Robertson and Keynes or investment and saving; the finance of investment; the rate of interest; a monetary theory of the rate of interest; the conditions for money as the standard; the market rate of interest and its economic significance; the Keynesian economic problem and its solution. Part 3 The Keynesian revolution and its critics - monetarists and Austrians: the consequences of Mr Keynes?; monetarism - the counter-revolution; - Keynes and the "Keynesians"; - rational expectations; the Austrians - tenets of the faith; - Hayek and the trade cycle; - two routes to serfdom; employment policy; the Keynesian revolution in context.