KEYNES, COORDINATION AND BEYOND

Harry Garretsen

in Books from Edward Elgar Publishing

Abstract: This book argues that the coordination problem lies at the heart of Keynes's economics. It shows how Keynes's message got lost in the post-War period and develops a more fruitful extension of Keynes's ideas within a general equilibrium framework and alternative frameworks such as post-Keynesian and Austrian economics. It is demonstrated that in the absence of a coordinating device like the Walrasian auctioneer or in the presence of uncertainty, coordination can no longer be superimposed. This ultimately implies that apart from some notable exceptions, the Keynesian revolution was in fact stifled at birth because the validity of the central concepts of microeconomics have never been challenged.

Keywords: Economics and Finance (search for similar items in EconPapers)
JEL-codes: B0 (search for similar items in EconPapers)
Date: 1992
ISBN: 9781852786205
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Citations: View citations in EconPapers (4)

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