This work deals with the economic systems of the two monetary revolutionaries of this century. They reacted against orthodoxy in different ways, with Friedman redirecting and reinforcing Keynes' major contributions. Friedman used the system of testing one hypothesis against another rather than using a naive model. He provided analytical, political, and ideological positions that yield an all-encompassing analytical system.
This work deals with the economic systems of the two monetary revolutionaries of this century. They reacted against orthodoxy in different ways, with Friedman redirecting and reinforcing Keynes' major contributions. Friedman used the system of testing one hypothesis against another rather than using a naive model. He provided analytical, political, and ideological positions that yield an all-encompassing analytical system.
Illustrations Preface Acknowledgments Introduction Keynes, Friedman, and the Open Economy Neoclassical Economics and the Monetary Revolution Microeconomics, the Revolution, and Ideology Some Monetary History, the State, and the International Dimension Keynesian Mechanics, Money, and Time Keynesian Mechanics: Autonomous Spending, Deficits, and Time Keynesian Variables, Permanent Income, and the Real Rate of Interest Production, Wages, and Prices Epilogue; An Open Ended Analytical System From Long Swings to Current Anticipations Explaining and Eliminating Turning Points in Business Conditions References Index
Illustrations Preface Acknowledgments Introduction Keynes, Friedman, and the Open Economy Neoclassical Economics and the Monetary Revolution Microeconomics, the Revolution, and Ideology Some Monetary History, the State, and the International Dimension Keynesian Mechanics, Money, and Time Keynesian Mechanics: Autonomous Spending, Deficits, and Time Keynesian Variables, Permanent Income, and the Real Rate of Interest Production, Wages, and Prices Epilogue; An Open Ended Analytical System From Long Swings to Current Anticipations Explaining and Eliminating Turning Points in Business Conditions References Index
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