Raising Keynes a twenty-first-century general theory

Includes bibliographical references and index.

Prologue: What is this book about? -- Part one. Background: The rise and fall -- Introduction: Is this resurrection necessary? -- What were they thinking? - economics before the general theory -- Part two. Keynes defeated - static models and the critics: The determination of output and employment - first and second passes at equilibrium -- Appendix I: Keynes's definition(s) of unemployment -- Appendix II: What do interest rates do? -- Mathematical appendix -- Equilibrium with a given money supply - critical perspectives on the second-pass model -- Mathematical appendix -- Part three. Keynes vindicated - a macro theory of real-time changes: The price mechanism: gospels according to Marshall and Walras -- Mathematical appendix -- The general theory without rigid prices and wages -- Appendix: A brief history of stationary real-price equilibrium -- Mathematical appendix -- Dynamics vs statics: can the economy get from the here of unemployment to the there of full employment? -- Mathematical appendix -- A dose of reality: the evidence of the Great Depression -- Appendix: Milton Friedman and Anna Schwartz on what made the depression great -- Mathematical appendix -- Part four. Building blocks: Consumption and saving -- Mathematical appendix -- Investment -- Mathematical appendix -- The theory of interest, I: Liquidity preference in a world of money and bonds -- Appendix: Bond coupons as insurance against price declines -- The theory of interest, II: Liquidity preference as a theory of spreads -- Mathematical appendix -- Statistical appendix:: What do the data say? -- Taking money seriously -- Mathematical appendix -- Part five. Fiscal policy in theory and practice: Functional finance and the stabilization of aggregate demand -- Did the Obama stimulus work? -- Statistical appendix: Regressions and their discontents -- Functional finance and the composition of aggregate demand -- Appendix 1: Sound finance as starving the beast -- Appendix 2: The empirics of debt sustainability -- Mathematical appendix -- Part six. Keynes in the long run -- First steps into the long run: Harrod, Domar, Solow, and Robinson -- Appendix: Inventory accumulation as a brake on output -- Keynes in the long run: a theory of wages, prices, and employment -- Mathematical appendix -- Inflation and employment empirics in the Keynesian long run -- Attack them in their citadel.

"Keynes's General Theory has been misunderstood as relying on frictions to justify the need for the visible hand of government to complement the invisible hand of the market. Fleshing out the GT with tools not available to Keynes, Marglin exposes the fundamental failure of markets to self-regulate and draws lessons for fiscal and monetary policies"--