{"product_id":"maynards-revenge-taylor-9780674050464","title":"Maynard's Revenge","description":"\u003cp\u003eIt is now widely agreed that mainstream macroeconomics is irrelevant and that there is need for a more useful and realistic economic analysis that can provide a better understanding of the ongoing global financial and economic crisis. \u003cb\u003eLance Taylor\u003c\/b\u003e's book exposes the unrealistic assumptions of the rational expectations and real business cycle approaches and of mainstream finance theory. It argues that in separating monetary and financial behavior from real behavior, they do not address the ways that consumption, accumulation, and the government play in the workings of the economy. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eTaylor argues that the ideas of J. M. Keynes and others provide a more useful framework both for understanding the crisis and for dealing with it effectively. Keynes's basic points were fundamental uncertainty and the absence of Say's Law. He set up machinery to analyze the macro economy under such circumstances, including the principle of effective demand, liquidity preference, different rules for determining commodity and asset prices, distinct behavioral patterns of different collective actors, and the importance of thinking in terms of complete macro accounting schemes. Economists working in this tradition also worked out growth and cycle models. \u003cp\u003e\u003c\/p\u003eEmploying these ideas throughout \u003ci\u003eMaynard's Revenge\u003c\/i\u003e, Taylor provides an analytical narrative about the causes of the crisis, and suggestions for dealing with it.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Lance Taylor\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 0674050460\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9780674050464\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Harvard University Press\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 01\/01\/2011\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 400\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.67lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.12h x 6.70w x 1.16d\u003cbr\u003e\u003cbr\u003e\u003cb\u003eReview Citation(s): \u003c\/b\u003e\u003cbr\u003e\u003ci\u003eChoice\u003c\/i\u003e 05\/01\/2011\u003cbr\u003e\u003ci\u003eChronicle of Higher Education\u003c\/i\u003e 12\/17\/2010 pg. 13\u003cbr\u003e\u003ci\u003eReference and Research Bk News\u003c\/i\u003e 04\/01\/2011 pg. 78","brand":"Lance Taylor","offers":[{"title":"Hardcover","offer_id":43946902847743,"sku":"9780674050464","price":57.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/products\/img_17969e0a-d923-4137-8e44-8480ebc1e824.jpg?v=1681515680","url":"https:\/\/www.whiterainbookhouse.com\/products\/maynards-revenge-taylor-9780674050464","provider":"WR Book House","version":"1.0","type":"link"}