MACROECONOMICS AND MONETARY THEORY The Selected Essays of Meghnad Desai, Volume I
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Biografisk notat
Lord Meghnad Desai St Clement Danes, House of Lords, UK<i>'There are two themes that appeared to me to unite all these contributions. The first was a deep respect for the work of earlier economists, and it is fascinating to see the influence of Marx, Keynes and others played out in his research. The second is a belief in the importance of macroeconomic research for understanding current issues and policy dilemmas, which helps account for the fact that understanding inflation plays a key role in a number of the papers. It is perhaps the unusual combination of these two themes which help make this collection both intriguing and a joy to read.'</i>
- Simon Wren-Lewis, The Economic Journal,
Beginning with a series of essays which address the inflation problem using an extension of the Goodwin model, the volume continues with his revisionist interpretation of the Phillips Curve, assessments of monetarism, discussion of the economics of Keynes and Hayek, and an original paper on monetary theory. Later chapters include the author's work on applied econometrics, endogenous and exogenous money, and financial innovation.
The volume also includes a substantial autobiographical preface, in which Lord Desai explains how he became an economist and the influences behind the development of his thought, as well as a specific introduction explaining how he came to produce the papers included in this volume.