Jamee Moudud provides a new microfoundational explanation for the Harrodian long-run or warranted growth rate. The author, emphasizing the role of Keynesian uncertainty, shows that the growth model is anchored in a new interpretation of the Oxford Economists' Research Group's microeconomic analysis and a variant of the stock-flow consistent framework. In a distinctly Kaldorian vein, Jamee Moudud discusses the relationship between capital budgeting, public investment, and taxation policy as it relates to the warranted growth rate and its impact on long-term involuntary unemployment.

Conventional theory and policy either assume that markets are perfectly competitive or that they are imperfectly competitive, thus leading to prevailing views on monopoly. This book takes a radically different approach to the analysis of competition by rejecting the perfect vs. imperfect competition dichotomy.