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Consequential Macroeconomics - A Book Review

Consequential Macroeconomics - Rationalizing About How Our Social System Works

By David Harold Chester Lambert 

Academic Publishing, Saabucken, Germany, 2015.310 pages. 

From Morebooks, Barnes & Noble. €79.90 (or $89)  

The 240-year-old problem of making macroeconomics a true science at last has been solved, according to the author.

This book presents a logical, compact, but comprehensive theory about how our social system works, whilst providing a picture of its various role-playing entities, their detailed activities and functions.

The assumptions and definitions allow the construction of a seamless model that is logical in its derivation and methods.

Details are given about the circulation of money and the opposing flows of goods, services, rights for access, valuable documents, etc., with some ideas in the subsequent development.

The book is presented in six parts: getting started, the model, analysis, decisions, money and consequences. It includes four hand-calculated examples, with many figures, tables and seven appendices.

It is suitable for undergraduate students of economics. They should have some acquaintance with high-school economics and mathematics, to include elementary matrices and the notation of the calculus.

This book is useful for teaching purposes because of its general terminology (with definitions). The development also opens the way for research.



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Thursday, 23 May 2024

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