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MACROECONOMICS AND MONETARY THEORY - The Selected Essays of Meghnad Desai, Volume I
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Meghnad Desai's work presents a significant challenge to economics as currently practised. This volume brings together a collection of essays on issues in macroeconomics and monetary theory from an unorthodox position. Beginning with a series of essays which address the inflation problem using an extension 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. "Poverty, Famine and Economic Development", Volume II of Meghnad Desai's essays is also available.
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