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This book takes a close look at macroeconomic imbalances within the Eurozone and explores the profound consequences the introduction of the European Monetary Union (EMU) has had on Euro area countries. Particular attention is given to balance of payments deficits and surpluses, and the profound difficulties of rebalancing the Euro area. Throughout the chapters, the author argues that the EMU has failed to support an optimal currency area with the correct institutional arrangements due to misunderstandings at a macroeconomic level. The author also sheds light on the stability pact and the resulting macroeconomic trap which has left a number of Eurozone countries with devastatingly high rates of unemployment. The book argues that by disregarding important macroeconomic imbalances, Euro-monetarists have derailed the entire Eurozone project to such an extent that it is at risk of falling apart. Key chapters discuss the establishment of the EMU from a Euro-realist perspective and the role of the European Central Bank in rebalancing financial markets. The concluding chapter looks ahead to the future of the Euro and proposes necessary institutional solutions to the macroeconomic problems it is currently facing. Scholars and students with an interest in the current economic disarray within the Eurozone will find this work thought-provoking and highly informative. Jesper Jespersen is Professor of Economics at Roskilde University, Denmark. He holds a PhD in International Economics from the European University Institute, Florence, Italy. Further, he has been a visiting professor at the University of Burgundy, France, and a research fellow at Churchill College, Cambridge, UK. He is the author of Macroeconomic Methodology (2009), and co-editor of Keynes’s General Theory for Today (2012) and Teaching Post Keynesian Economics (2013).

Europe --- European Economic Community literature. --- Economic policy. --- Economics. --- European Integration. --- Economic Policy. --- European Politics. --- Politics and government. --- Economic nationalism --- Economic planning --- National planning --- State planning --- Politics --- European Economic Community lite. --- Europe-Politics and government. --- Economics --- Planning --- National security --- Social policy --- Europe—Politics and government.

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The themes of this important new volume were chosen to mark the 75th anniversary of the publication of The General Theory of Employment, Interest and Money. The distinguished authors concentrate on the relevance of this seminal publication for macroeconomic theory, method and the politics of today. This is particularly pertinent as similarities with the 1930s are striking in terms of unemployment, low growth, financial fragility and the European monetary union resembling the gold standard. Illustrating new ways of understanding the importance of uncertainty in macroeconomics, particularly in v

Keynesian economics. --- Economics. --- Keynes, John Maynard,

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This book contends that post Keynesian economics has its own methodological and didactic starting point, and its realistic analysis comes close to a much-needed factor in the current economic and financial crisis. At a time when the original message of Keynes' General Theory is no longer present in the most university syllabuses, it book celebrates the uniqueness of teaching post Keynesian economics, providing comparisons with traditional economic rationale and illustrating the advantages of the post Keynesian economic teaching and thinking. Against a backdrop in which only textbooks assuming

Keynesian economics. --- Economic history.

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The Post-Keynesian methodology emphasising uncertainty is indispensable to analysing and understanding the major challenges of the 21st Century. On that basis, this book focuses on the failures of the market economic system to secure stability and sustainability, and demonstrates why this is not recognised by conventional economic theory. The Post-Keynesian economics set out here aims for an understanding of the economy as a whole and as an integral part of society. Chapters analysing money, banks and finance as dynamic phenomena open the book. They are followed by chapters focusing on methodological issues such as uncertainty, longer-term aspects, sustainability and other non-monetary economic activities. This important book is a useful tool for students and researchers who wish to gain a better understanding of real world economics. In these areas where conventional macroeconomic theory may not be sufficient, this book offers viable Post-Keynesian alternatives.

Keynesian economics.