Contents: Introduction -- 1. The purpose of this book and why only I could write it -- 2. The background -- 3. The Keynesian revolution and classical theory -- 4. Understanding classical presuppositions, terminology and concepts -- 5. The classical theory of value and the marginal revolution --...

Since the publication of The General Theory, pre-Keynesian economics has been labelled “classical,” but what that classical economics actually consisted of is now virtually an unknown. There is, instead, a straw-man caricature most economists absorb through a form of academic osmosis but...

A revival of the importance of classical economic theoryIn this thoroughly updated second edition of Free Market Economics, Steven Kates assesses economic principles based on classical economic theory before Keynesian theory became dominant in macroeconomics and equilibrium analysis became...