1 september 2015
Definition & Reality in the General Theory of Political Economy
Keynes's General Theory is generalised even further by including endogenous government in the model, giving a truly general Political Economy. By including stagnation in economic policy making in our analysis, we arrive at a better understanding of the Great Depression and the Great Stagflation. The general theory also explains why it would be advisable for a democratic society to create an Economic Supreme Court as a separate constitutional power, next to the Legislative, Executive and Judicial branches. This book primarily gives theory and stylized facts, and it is directed primarily at my fellow economists. The colleagues specifically must get to understand the Definition & Reality methodology before they will appreciate that my analysis is scientifically warranted. Much work remains to be done in practical research. And much work must also be done by the other professions. It may be hoped, none the less, that the parliaments of our democratic nations investigate the issue too, so that there is more hope for improvement in the living conditions of the many victims of the current imbalance of powers. The PDF is online, the printed book comes at a price.