List of contributors

List of figures

List of tables

Introduction

PART I CONSUMPTION, INVESTMENT AND GOVERNMENT SPENDING

A Consumption

1 Aggregate consumption and the economics of Keynes

Kenneth J. Borghese

David C. Lund

2 Fictional basis of modern macroeconomics

David Bunting

B Investment

3 A direct test of Keynes's theory of investment: assessing the role of profit expectations and weight

Michael A. Anderson

Arthur H. Goldsmith

4 Keynes and the suspectibility of investment

Jerry Courvisanos

5 Different views on uncertainty and some policy implications

David Dequech

6 Disequilibrium pricing, critical equilibrium and the real cycle

Etelberto Ortiz C.

C Government Spending

7 The effects of the fiscal deficit on the composition of US GDP: an analysis of disaggregated data

Neil H. Buchanan

PART II ROUNDTABLE: CAN KEYNES'S EMPLOYMENT POLICIES REACH THE UNDERCLASS?

8 The problem of the `extremely poor' in Brazil: are aggregate demand management policies enough?

Fernanda Lopes de Carvalho

9 Keynes, employment policy and the underclass

William Darity Jr

10 A new view of the NAIRU

Robert Eisner

11 It's time to ditch the NAIRU

James K. Galbraith

12 Employment policy, community development and the underclass

Dimitri B. Papadimitriou

PART III KEYNES AND ECONOMIC DEVELOPMENT

13 Imported capital goods and the small open economy

Penny Hawkins

14 The relevance of the principles of Keynesian economics for the transition to capitalism in today's underdeveloped world

Hartmut Elsenhans

15 Globalization and international competitiveness

William Milberg

PART IV INCOME DISTRIBUTION

16 Changes in income distributions and poverty rates in Central European transitional economies

Christopher J. Niggle

Index