Announcement of availability: "Definition & Reality in the General Theory of Political Economy" 2nd edition 2005
Thomas Colignatus ()
General Economics and Teaching from EconWPA
This paper gives the announcement that the 2nd edition of DRGTPE is available at Dutch University Press. The basic idea of the book is that Keynes's General Theory is generalised even further by including endogenous government in the model, so that we arrive at a truly general Political Economy. By including 'stagnation in economic policy making' in our analysis we arrive at a better understanding of the Great Depression and the Great Stagflation. The general theory also explains why it would be advisable for a democratic society to create an Economic Supreme Court as a separate constitutional power, next to the Legislative, Executive and Judicial branches. This book primarily gives theory and stylized facts, and it is primarily directed at my fellow economists. The colleagues specifically will need to learn to understand the Definition and Reality methodology before they will appreciate that my analysis is scientifically warranted. Much work remains to be done in practical research. And much work remains to be done by the other professions. It may be hoped, none the less, that the parliaments of our democratic nations investigate the issue too, so that there is more hope for improvement in the living conditions of the many victims of the current imbalance of powers.
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