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Definition & Reality in the General Theory of Political Economy cover

Definition & Reality in the General Theory of Political Economy

By Thomas Cool
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EconomicsPolitics

About This Book

The author extends Keynesian macroeconomics by treating government action as endogenous and incorporating policy stagnation into a comprehensive political economy. A Definition & Reality methodology is offered and applied through structural and reduced-form models that address heterogeneous labor markets, nonlinear taxation, subsistence constraints, and the Phillips curve, aiming to explain persistent unemployment and stagflation. The text critiques mainstream economic practice, presents stylized facts, and advances institutional reform proposals — notably an Economic Supreme Court — alongside diagnostic tools and policy prescriptions intended for economists and democratic legislators.

About the Author

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Thomas Cool

Thomas Cool is an author known for his contributions to economic theory, particularly through his work "Definition & Reality in the General Theory of Political Economy." In this book, he explores the foundational concepts and frameworks that underpin political economy, offering insights into the relationship between definitions and their practical implications. Cool's writing is characterized by a rigorous analytical approach, making complex economic ideas accessible to a broader audience. His work contributes to the ongoing discourse in economic thought, emphasizing the importance of clarity in defining economic terms and concepts.

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