A review essay on Basil John Moore, Shaking the Invisible Hand : Complexity, Endogenous Money and Exogenous Interest Rates, Basingstoke, Palgrave Macmillan, April 2006, pp. xxvi+556.

Paper takes Toshiaki Hirai’s (2007) Keynes’s Theoretical Development: From the Tract to the General Theory as motivation for a re-evaluation of the transition between the Treatise and General Theory. Hirai’s work is important because he frees the transition from the ‘Keynesian’...

Keynes's theory of investment and the economic cycle is set out. Against this theory it is argued that the current monetary policy framework is not credible. Rather, given its implicit endorsement of financial liberalisation, it is, and has proved, deeply dangerous. Keynes advocated policies...

Now there is no part of our economic system which works so badly as our monetary and credit arrangements; none where the results of bad working are so disastrous socially; and none where it is easier to propose a scientific solution. (J. M. Keynes: Speech to the Liberal Party, December 1923, The...

A measure of private or market sector activity is useful for assessing demand pressures and productivity trends in the economy. This article discusses the practical issues involved in constructing a measure of the market sector's gross value added (MSGVA) for the United Kingdom. It looks at the...