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- catalog abstract ""Keynes and Hayek inspired the economic controversy of the twentieth century: the role of the state, and of money and interest rates in an advanced capitalist industrial economy. In his work, Keynes points to high interest rates, low asset values and a negative wealth effect as the principal causes of a slump. By contrast, Hayek points to a system extended beyond its full capacity by low interest rates and high investment yields. Where Keynes argued that under-used capacity is symptomatic of deficient aggregate demand, Hayek viewed under-used capacity as symptomatic of inappropriate investments and of a demand for consumption goods that is too pressing to allow the completion of investments in current gestation." "This book relaunches Alex Leijonhufvud's controversial critique of Keynes's General Theory, examining it in conjunction with Hayek's work on capital theory and business cycles. The monetary issues discussed in this book remain both complex and contentious. In contrasting the broad features of Austrian economics with post-Keynesian economics, the book also discusses points raised by more recent protagonists in the debate. Against this background, arguments and events of the twentieth century are examined for economic policy guidance."--Jacket.".
- catalog contributor b12190060.
- catalog created "2001.".
- catalog date "2001".
- catalog date "2001.".
- catalog dateCopyrighted "2001.".
- catalog description ""Keynes and Hayek inspired the economic controversy of the twentieth century: the role of the state, and of money and interest rates in an advanced capitalist industrial economy. In his work, Keynes points to high interest rates, low asset values and a negative wealth effect as the principal causes of a slump. By contrast, Hayek points to a system extended beyond its full capacity by low interest rates and high investment yields. Where Keynes argued that under-used capacity is symptomatic of deficient aggregate demand, Hayek viewed under-used capacity as symptomatic of inappropriate investments and of a demand for consumption goods that is too pressing to allow the completion of investments in current gestation."".
- catalog description ""This book relaunches Alex Leijonhufvud's controversial critique of Keynes's General Theory, examining it in conjunction with Hayek's work on capital theory and business cycles. The monetary issues discussed in this book remain both complex and contentious. In contrasting the broad features of Austrian economics with post-Keynesian economics, the book also discusses points raised by more recent protagonists in the debate. Against this background, arguments and events of the twentieth century are examined for economic policy guidance."--Jacket.".
- catalog description "1. Introduction -- 2. Vision in economics -- 3. Philosophy and political economy -- 4. Money issues -- 5. Macrodisequilibrium -- 6. Keynes and SENIE macromodels -- 7. Value theory and monetary theory -- 8. Capital, money and cycles -- 9. Austrians and post-Keynesians -- 10. Economic guidance.".
- catalog description "Includes bibliographical references and index.".
- catalog extent "224 p. :".
- catalog identifier "0415251389".
- catalog isPartOf "Foundations of the market economy series".
- catalog issued "2001".
- catalog issued "2001.".
- catalog language "eng".
- catalog publisher "London ; New York : Routledge,".
- catalog subject "332.4 21".
- catalog subject "Business cycles.".
- catalog subject "Capitalism.".
- catalog subject "HG221 .S749 2001".
- catalog subject "Hayek, Friedrich A. von (Friedrich August), 1899-1992.".
- catalog subject "Keynes, John Maynard, 1883-1946.".
- catalog subject "Keynesian economics.".
- catalog subject "Money.".
- catalog tableOfContents "1. Introduction -- 2. Vision in economics -- 3. Philosophy and political economy -- 4. Money issues -- 5. Macrodisequilibrium -- 6. Keynes and SENIE macromodels -- 7. Value theory and monetary theory -- 8. Capital, money and cycles -- 9. Austrians and post-Keynesians -- 10. Economic guidance.".
- catalog title "Keynes and Hayek : the money economy / G.R. Steele.".
- catalog type "text".