ABSTRACT

The Great Depression of the 1930s with its dramatic unemployment rates was one of the most striking economic events of the past century. It shook economists' beliefs in the existence of self-adjusting forces and prompted Keynes to write his masterwork, The General Theory of Employment, Interest and Money. Involuntary unemployment was the central co

chapter 1|10 pages

Introduction

part |2 pages

PART I Conceptual prerequisites

chapter 2|15 pages

Defining involuntary unemployment

chapter 4|11 pages

Trade organisation

part |2 pages

PART II Involuntary unemployment in Keynes’ The General Theory

part |2 pages

PART III IS-LM macroeconomics

chapter 8|6 pages

IS-LM à la Modigliani

chapter 9|12 pages

Lange, Leontief, Tobin, Klein and Hansen

part |2 pages

PART IV Reconstructing Keynesian economics: The disequilibrium approach

part |2 pages

PART V The anti-Keynesian offensive

chapter 13|15 pages

Friedman

chapter 14|15 pages

Lucas

part |2 pages

PART VI The New Keynesian counter-attack

chapter 15|7 pages

Implicit contract theory

chapter 16|17 pages

Efficiency wage theory

chapter 17|9 pages

Insider–Outsider theory

chapter 18|14 pages

Coordination failures models

chapter 20|10 pages

Epilogue