Financial Macroeconomics

“This collection of essays shows why Geoffrey Harcourt often proclaimed Jan Kregel the ‘greatest living economist.’ It offers a fascinating and unparalleled journey through Kregel’s reconstruction of macroeconomics building on contributions by Gibson, Fisher, Keynes, Hayek, Hicks, Macauley, Sraffa and Samuelson to the theory of money, finance and interest rates.”  —L. Randall Wray, Senior Scholar, Levy Economics Institute, Professor of Economics, Bard College “Financial Macroeconomics is a stellar collection of essays on institutional, evolutionary and Post Keynesian economics. More than a century ago, Thorstein Veblen asked where we might find ‘surcease from the metaphysics of normality and controlling principles.’ Look no further: Kregel and Rezende have answered the call.” — James K. Galbraith, The University of Texas at Austin. “A unique collection of seminal papers by Jan Kregel, a pre eminent Post-Keynesian economist, covering important methodological issues, Keynes’ effective demand and many aspects of contemporary monetary theory and policy that challenge the conventional wisdom. The insights of the papers included here represent the best thinking of financial macroeconomics and deserve to be read widely.”  — Dimitri Papadimitriou, President Levy Economics Institute and Professor of Economics, Bard College “Jan Kregel’s erudite and thoughtful collection of essays is an account of Keynes’s economics that is unique in its scholarship and understanding of Keynes’s work, and the macroeconomics that superseded Keynesianism. What makes that account distinctive from the usual Post-Keynesian reflections is Jan Kregel’s deep understanding of finance, and the place of finance in Keynes’s thinking. This makes the essays essential reading for economists, financiers and financial reformers.” —Jan Toporowski