Customer Reviews

Modern Macroeconomics: Its Origins, Development And Current State

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The book surveys all of the major intellectual trends within macroeconomics since Keynes. The writing is clear, which is atypical for most economics books, and the discussion is rich with lore and plenty of references (the bibliography is over 80 pages!) It really filled many gaps in my understanding of macro. I recommend this book for graduate macro students and advanced undergraduates; others might find it hard to appreciate the models and the ideas if they don't have a good understanding of at least intermediate macro. Last but not least, the interviews are truly inspirational; I found myself hurrying through the chapters to get to the interviews as quickly as possible!

This book is a nice overview of the main macro theories with a non-mathematical slant. But do not take it for a macro "overview for dummies". To fully appreciate the subtle nuances between competing views, one must have a firm grasp of macroeconomics.

Also, the interviews are really enjoyable and enlightening.

As a suggestion for next editions, i would like to read an interview with michael woodford, and a full chapter on the "new neoclassical synthesis".

This is undoubtedly the best book for an advanced introduction to Macroeconomics at graduate level, before one takes up more technical macro/growth theory books like Romer, Obsfield or Barro etc. It approaches the subject 'macro school' wise, ie by taking a historical and chronological methodology which makes the subject much more interesting, providing a clear conceptual background of the development of macroeconomics as a separate field in past 70-80 years. Starting from Keynes, it discusses all the major development, concepts, theory, models and their interrelationships in macroeconomics today including the recent spurt in growth theory analysis.
It is a must read not only for any budding economists but also for well informed general readers interested in economics as a whole.

This is a great summary of the evolution of macroeconomic thought since Keynes, as well as a good explantion of their fundamentals and issues.

All major schools are impartially approached in a textbook fasion, followed by well-conducted interviews with leading economists of each school, such as Tobin (orthodox keynesians), Friedman (monetarists), Lucas (new classicals), Prescott (RBC), just to mention a few. Some schools out of the mainstream are also approached, with lower bright though (austrians and post-keynesians).

The book is a great companion for intermediate undergrads: in addition to provide a historical perspective, it equips readers of intermedate popular textbooks to shed different lights on issues and models presented as 'official truths' - such books rarely leave room for alternative approaches, debates, or criticisms between schools (Froyen's is a great exception, along with Mankiw to a minor extent).

The only flaw is the shallow coverage of schools not-aligned with mainstram, such as those aforementioned ones, or full omission of some (such as evolutionary / neo-schumpeterian and other hetherodoxes). PKs and Austrians deserved shorter texts, though presented by iminent shcholars from those schools, but had no interview - therefore restricting a better comprehension, as such 'live talks' with prominent authorities of each is what 'gives soul' to their claims (it works like a diligent defense of their approaches, persuasively enriching the reading, as they explain, criticize, support, compare, etc).

In sum, a book like no other in account for the richness of macroeconomic thought, to be extended for alternative approaches - if split in two volumes as it will become almost encyclopedical, the expense of further costs will certainly pay off the broader and eccletic coverage to be provided.

Good book with interesting interviews. Interviews are conducted by economists who actually know what they are talking about.

Reading this book will open your mind in understanding what does Economics talk about, especially in macro scope. Once you read the firt few chapters, you will know the main goal of Macroeconomics analyses and their implication our economy issues today by using their theory explanation. This is a great book!

This book is not easy to find at any price. The price was great and delivery was prompt. Great service.