The Economics of Keynes

A New Guide to The General Theory

New Directions in Modern Economics series

The late M.G. Hayes, formerly Robinson College, University of Cambridge, UK

In his ‘New Guide’ to The General Theory, Mark G. Hayes presents Keynes’s illustrious work as a sophisticated Marshallian theory of the competitive equilibrium of the economy as a whole. This unique book takes full account of the nature of time and money and illustrates that The General Theory remains highly relevant to the teacher and advanced student of modern macroeconomics.

‘Hayes has succeeded in bringing a fresh and stimulating look to Keynes's classic work. I recommend this book to his fellow economists.’
– Paul Dalziel, Economic Issues

‘Designed to be read along with The General Theory, The Economics of Keynes is an ideal companion to enhance one’s understanding of that classic work. A must for anyone who truly wants to call themselves an expert on economics.’
– Midwest Book Review

‘Hayes’s guide to The General Theory is very much better than most, and is strongly recommended. . .’
– J.E. King, History of Economics Review

‘Mark Hayes has thought long and deeply about Keynes’s General Theory and has developed a refreshingly original viewpoint which is bound to stimulate lively discussion and debate.’
– Victoria Chick, University College London, UK

‘Hayes’s volume is a work of exemplary scholarship, the outcome of prolonged and deep thought. Alas, all the incentives in modern academia pull against work such as this being done. It is to the author’s great credit that he has resisted them in order to give us this volume of lasting significance.’
– From the foreword by G.C. Harcourt, University of New South Wales, Australia