Cover -- Title Page -- Copyright Page -- Table of Contents -- List of contributors -- INTRODUCTION -- Part I Inflation and unemployment: a monetary and structural framework for analysis -- 1 INFLATION AND DEFLATION: The two faces of the same reality -- Introduction -- The quantity theory of money: a reappraisal -- The traditional analysis of inflation: a critical survey -- Unemployment -- Stagflation -- Inflation and deflation as the consequences of the same anomaly -- 2 STRUCTURAL CHANGE, ECONOMIC GROWTH AND UNEMPLOYMENT IN A VERTICALLY INTEGRATED MODEL -- Introduction -- Two frameworks of analysis: the circular model and the vertically integrated model -- Technological unemployment in the vertically integrated model -- International mobility of labour, information and technical knowledge -- Summing up -- Part II Inflation and deflation as monetary pathologies -- 3 UNEMPLOYMENT: Is there a principal cause? -- Introduction -- No positive measure of unemployment can occur in an economy where the definition of the national income reduces to C+I -- The complete demonstration of the equivalence of saving and investment must be founded on a revision of the concept of money -- Profits are definitively not to blame for any measure of positive unemployment -- Real money, nominal money and the principal cause of unemployment -- 4 FROM KEYNES'S TO THE MODERN ANALYSIS OF INFLATION -- Inflation from the Tract to the Treatise -- Income and the definition of the inflationary gap -- The General Theory and after: the confrontation between the analysis of the inflationary gap and the identity between supply and demand -- The identity between aggregate supply and demand, the basis of a new definition of the inflationary gap -- Part III Learning from the past.

5 THE MARX-HAYEK CYCLE AND THE DEMISE OF OFFICIAL KEYNESIANISM -- Introduction -- Marx's theory of the cycle -- Hayek's theory -- Recent economc history as a Marx-Hayek cycle -- Some analytical summing up -- 6 UNEMPLOYMENT AND PRICE STABILITY: Aspects of the Marshallian legacy on the monetary economy -- Marshall and the monetary economy -- The monetary economy in Robertson and Keynes -- Concluding comments -- References -- Author index -- Subject index.