Back to the future: a heterodox economist rewrites Keynes’s General Theory of Employment, Interest, and Money to serve as the basis for a macroeconomics for the twenty-first century.

John Maynard Keynes’s General Theory of Employment, Interest, and Money was the most influential economic idea of the twentieth century. But, argues Stephen Marglin, its radical implications were obscured by Keynes’s lack of the mathematical tools necessary to argue convincingly that the problem was the market itself, as distinct from myriad sources of friction around its margins.

Marglin fills in the theoretical gaps, revealing the deeper meaning of the General Theory. Drawing on eight decades of discussion and debate since the General Theory was published, as well as on his own research, Marglin substantiates Keynes’s intuition that there is no mechanism within a capitalist economy that ensures full employment. Even if deregulating the economy could make it more like the textbook ideal of perfect competition, this would not address the problem that Keynes identified: the potential inadequacy of aggregate demand.

Ordinary citizens have paid a steep price for the distortion of Keynes’s message. Fiscal policy has been relegated to emergencies like the Great Recession. Monetary policy has focused unduly on inflation. In both cases the underlying rationale is the false premise that in the long run at least the economy is self-regulating so that fiscal policy is unnecessary and inflation beyond a modest 2 percent serves no useful purpose.

Fleshing out Keynes’s intuition that the problem is not the warts on the body of capitalism but capitalism itself, Raising Keynes provides the foundation for a twenty-first-century macroeconomics that can both respond to crises and guide long-run policy.

Rationality and freedom are among the most profound and contentious concepts in philosophy and the social sciences. In two volumes on rationality, freedom, and justice, the distinguished economist and philosopher Amartya Sen brings clarity and insight to these difficult issues. This volume--the first of the two--is principally concerned with rationality and freedom.

Sen scrutinizes and departs from the standard criteria of rationality, and shows how it can be seen in terms of subjecting one's values as well as choices to the demands of reason and critical scrutiny. This capacious approach is utilized to illuminate the demands of rationality in individual choice (including decisions under uncertainty) as well as social choice (including cost benefit analysis and environmental assessment).

Identifying a reciprocity in the relationship between rationality and freedom, Sen argues that freedom cannot be assessed independently of a person's reasoned preferences and valuations, just as rationality, in turn, requires freedom of thought. Sen uses the discipline of social choice theory (a subject he has helped to develop) to illuminate the demands of reason and the assessment of freedom. The latter is the subject matter of Sen's previously unpublished Arrow Lectures included here.

The essays in these volumes contribute to Sen's ongoing transformation of economic theory and social philosophy, and to our understanding of the connections among rationality, freedom, and social justice.

As teachers and readers expand the canon of world literature to include writers whose voices traditionally have been silenced by the dominant culture, fundamental questions arise. What do we mean by "world"? What constitutes "literature"? Who should decide?

Reading World Literature is a cumulative study of the concept and evolving practices of "world literature." Sarah Lawall opens the book with a substantial introduction to the overall topic. Twelve original essays by distinguished specialists run the gamut from close readings of specific texts to problems of translation theory and reader response. The sequence of essays develops from re-examinations of traditional canonical pieces through explorations of less familiar works to discussions of reading itself as a "literacy" dependent on worldview.

Reading World Literature will open challenging new vistas for a wide audience in the humanities, from traditionalists to avant-garde specialists in literary theory, cultural studies, and area studies.

Macroeconomics is in disarray. No one approach is dominant, and an increasing divide between theory and empirics is evident.

This book presents both a critique of mainstream macroeconomics from a structuralist perspective and an exposition of modern structuralist approaches. The fundamental assumption of structuralism is that it is impossible to understand a macroeconomy without understanding its major institutions and distributive relationships across productive sectors and social groups.

Lance Taylor focuses his critique on mainstream monetarist, new classical, new Keynesian, and growth models. He examines them from a historical perspective, tracing monetarism from its eighteenth-century roots and comparing current monetarist and new classical models with those of the post-Wicksellian, pre-Keynesian generation of macroeconomists. He contrasts the new Keynesian vision with Keynes's General Theory, and analyzes contemporary growth theories against long traditions of thought about economic development and structural change.

To understand the nature of religious belief, we must look at how our minds process the world of imagination and make-believe.

We often assume that religious beliefs are no different in kind from ordinary factual beliefs—that believing in the existence of God or of supernatural entities that hear our prayers is akin to believing that May comes before June. Neil Van Leeuwen shows that, in fact, these two forms of belief are strikingly different. Our brains do not process religious beliefs like they do beliefs concerning mundane reality; instead, empirical findings show that religious beliefs function like the imaginings that guide make-believe play.

Van Leeuwen argues that religious belief—which he terms religious “credence”—is best understood as a form of imagination that people use to define the identity of their group and express the values they hold sacred. When a person pretends, they navigate the world by consulting two maps: the first represents mundane reality, and the second superimposes the features of the imagined world atop the first. Drawing on psychological, linguistic, and anthropological evidence, Van Leeuwen posits that religious communities operate in much the same way, consulting a factual-belief map that represents ordinary objects and events and a religious-credence map that accords these objects and events imagined sacred and supernatural significance.

It is hardly controversial to suggest that religion has a social function, but Religion as Make-Believe breaks new ground by theorizing the underlying cognitive mechanisms. Once we recognize that our minds process factual and religious beliefs in fundamentally different ways, we can gain deeper understanding of the complex individual and group psychology of religious faith.

In Remembering the Future Luciano Berio shares with us some musical experiences that “invite us to revise or suspend our relation with the past and to rediscover it as part of a future trajectory.” His scintillating meditation on music and the ways of experiencing it reflects the composer’s profound understanding of the history and contemporary practice of his art.

There is much in this short book that provides insight on Berio’s own compositions. Indeed, he comments that writing it “led me to formulate thoughts that might otherwise have remained concealed in the folds of my work.” He explores themes such as transcription and translation, poetics and analysis, “open work,” and music theater. The reader will also find here numerous insights on the work of other composers, past and present, and much more. A figure of formidable intellect, Berio ranges easily among topics such as Schenkerian analysis, the criticism of Carl Dahlhaus and Theodor Adorno, the works of his friends and sometime collaborators Italo Calvino and Umberto Eco. But Berio carries his learning lightly—his tone is conversational, often playful, punctuated by arresting aphorisms: “The best possible commentary on a symphony is another symphony.”

Remembering the Future is the text of Berio’s Charles Eliot Norton Lectures of 1993–94, now made available for the first time.

Today genre studies are flourishing, and nowhere more vigorously perhaps than in the field of Renaissance literature, given the importance to Renaissance writers of questions of genre. These studies have been nourished, as Barbara Lewalski points out, by the varied insights of contemporary literary theory. More sophisticated conceptions of genre have led to a fuller appreciation of the complex and flexible Renaissance uses of literary forms.

The eighteen essays in this volume are striking in their diversity of stance and approach. Three are addressed to genre theory explicitly, and all reveal a concern with theoretical issues. The contributors are James S. Baumlin, Francis C. Blessington, Morton W. Bloomfield, Barbara J. Bono, Mary Thomas Crane, Heather Dubrow, Alastair Fowler, Marjorie Garber, Claudio Guillén, Ann E. Imbrie, John N. King, John Klause, Harry Levin, Earl Miner, Janel M. Mueller, Annabel Patterson, Robert N. Watson, and Steven N. Zwicker.

Arguably no other nineteenth-century German composer was as literate or as finely attuned to setting verse as Robert Schumann. Jon W. Finson challenges long-standing assumptions about Schumann's Lieder, engaging traditionally held interpretations. He argues against the belief that the "Year of Song" simply reflects Schumann's personal life. Finson also devotes attention to the form and metric structure of German poetry that is almost entirely new to the discussion of Schumann's songs.

Arranged in part thematically, rather than merely by strict compositional chronology, this book speaks to the heart of Schumann's music. Finson's sustained attention to performance, such as questions of whether two singers might divide performance of cycles or whether miscellanies form coherent entities, allows the reader to engage Schumann's songs in novel ways.

Finson brings original research and the most recent scholarship to the musically literate public and the expert alike. This represents the definitive work on Schumann's songs and the standard reference for any Schumann enthusiast.