This book presents Means's alternative monetary theory and macroeconomics to both the quality theory and Keynes's work. Published here for the first time, this book is significant in revealing Means's view of: economic processes in the real world; J.M. Keynes's path-breaking General Theory (1936); and the state of monetary and macroeconomic theory in the mid-1940s. Means presents an alternative to both the quantity theory of money and Keynesian macroeconomics: he calls it a monetary theory of employment. He emphasizes this line of reasoning that has become so deeply connected with his name: the role of administered prices. This book, published here for the first time, is significant in revealing Means's view of: --economic processes in the real world; --J.M.

Keynes's path-breaking General Theory (1936); and --the state of monetary and macroeconomic theory in the mid-1940s.