John Maynard Keynes failed to correctly interpret classic economic concepts, and dismissed the classical explanations and conclusions as being irrelevant to the world in which we live. The trauma of the Great Depression and Keynes's changed definition of economic concepts, aided by Eugen Bohm-Bawerk, have made it difficult for modern economists to fully appreciate the classical insights.

This outstanding book clarifies the classical explanations to resolve the continuing theoretical and policy disputes. Key chapters include:

• On the Definition of Money
...

John Maynard Keynes failed to correctly interpret classic economic concepts, and dismissed the classical explanations and conclusions as being irrelevant to the world in which we live. The trauma of the Great Depression and Keynes's changed definition of economic concepts, aided by Eugen Bohm-Bawerk, have made it difficult for modern economists to fully appreciate the classical insights.

This outstanding book clarifies the classical explanations to resolve the continuing theoretical and policy disputes. Key chapters include:

• On the Definition of Money
...

Keynes and the Classics Reconsidered is a collection of scholarly work re-evaluating Keynes's revolution in economic thought, both in the method of macroeconomic reasoning and in policy-making. This book brings together mostly a younger generation of economists to revisit Keynes's interpretation of the classics and its impact on macroeconomic theory and policy. There has been a considerable advance in the literature re-interpreting the classics and the early neoclassical economists. Most of the contributing authors have themselves been active participants in this reinterpretation....

Using empirical evidence from Asia, Africa and Latin America and covering such areas as imports, exports, resource utilisation and new technology, this book maintains that a classical neutralist policy towards multinational corporations would be the most effective way of stimulating growing economies.

What are the options open to policy-makers in developing countries when dealing with multinationals? How can they maximize the contribution of multinational enterprises towards their economic growth? Multinationals dominate world trade and direct investment. However, less developed countries have often regarded this power as detrimental to their fragile, growing economies and have pursued a policy of regulation. Modern economic theories of multinationals need to evaluate the effects of such policies. By integrating theories of multinational enterprise and of development economics, the author...