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portada Nature of Macroeconomics. Instability and Change in the Capitalist System
Type
Physical Book
Year
2000
Language
English
Pages
192
Format
Hardcover
Dimensions
21.60 x 13.80 cm
ISBN13
9781840640694

Nature of Macroeconomics. Instability and Change in the Capitalist System

Athol Fitzgibbons (Author) · Edward Elgar Publishing · Hardcover

Nature of Macroeconomics. Instability and Change in the Capitalist System - Athol Fitzgibbons

New Book Imported to South Africa
Delivery: 13 Aug - 24 Aug Shipping: 12 to 14 business days.
R 3,017
R 3,017

Synopsis "Nature of Macroeconomics. Instability and Change in the Capitalist System"

This book addresses the long absence of a satisfactory theory of macroeconomics. Keynesian theory is not consistent with rational self-interest, but neo-classical economics is unable to explain economic volatility and the trade cycle. Athol Fitzgibbons critiques the leading macroeconomic theories, which he believes are unduly mechanistic because they are incompatible with non-quantitative knowledge.

The author sketches the intellectual history of partial knowledge and judgement so far as these relate to macroeconomics, and rejects the claims that Keynes recanted the analysis of practical reason in his Treatise on Probability. Fitzgibbons's theme is the possibility of a new synthesis of Keynes and the neoclassical system. This stresses financial rationality, but it also recognizes that there is an element of indeterminacy in both government policies and the movements of the market.

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